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Documentary Collection

Benefit from our knowledge of local market practices and sources of funding
A payment mechanism in which a bank collects payments on behalf of the seller by delivering the documents to the buyer. It is used when the buyer and seller are already familiar with each other and a degree of trust exists between them. 
>> An alternative arrangement other than open account or cash in advance
>> Uncomplicated and inexpensive
>> Flexibility for both seller and buyer as there are few formal requirements
>> Title to the goods does not pass to the buyer until the payment is made or accepted for future date by the buyer

For more guaranteed documentary collections, we offer a special product 'Avalization of drafts' whereby NBY can also guarantee the payment at maturity of the drafts accepted by the buyer, if required. The buyer's commercial credit risk is converted to bank's risk whilst enhancing the business relationship between the buyer and seller.

By routing your documents through NBY's overseas correspondent banks, your documents will arrive faster, allowing settlement without delay.

NBY's Trade experts are available to provide you with advice on any aspect of conducting your business by documentary collection.

How to apply:
Visit the nearest NBY branch to you and our Customer care will be happy to assist you and answer all your inquiries and help you with the process.
For more help call : +967 - 2 - 259173


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