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11/07/2025
Export collection is a popular payment method in international trade, suitable for many different types of transactions.
Export collection is an effective payment tool, helping businesses minimize risks and ensure cash flow. So what is import collection, what are its benefits, and what is the process? This article by [website name] will help you answer these questions to better understand import collection.
Collection of payment is an international payment method in which the exporter (seller) after completing the obligation to deliver goods or provide services, entrusts its serving bank (the collecting bank/remitting bank) to present the delivery documents to the importer's bank (the buyer) (the collecting bank) to receive payment, accept bills of exchange or accept other terms and conditions. Collection documents can be commercial documents (such as invoices, transport documents, etc.) and/or financial documents (such as bills of exchange or other financial documents).
Export collection is an effective payment tool
In the export collection method, the bank is only an intermediary collecting money and is not responsible for the buyer's payment.DependsAccording to the importer's payment method, the collection is entrusted with documents in the following 3 ways:
The benefits of collection payments for exporters and importers are as follows:
For exporters:
For importers:
Payment collection benefits both exporters and importers.
The export collection process includes the following steps:
Step 1: Exporter delivers goods and prepares documents
After completing production and delivering goods to the importer, the exporter will prepare and sign a set of delivery documents as agreed with the importer. This set of documents usually includes:
Step 2 - Exporter entrusts the bank with collection
The exporter will submit the delivery documents to his/her serving bank (collecting bank) along with the document presentation form as prescribed by the Bank, which clearly states specific payment instructions.
Step 3 - The collecting bank transfers the set of documents to the correspondent bank
The collecting bank will prepare a collection instruction and transfer the delivery documents and collection instruction to the importer's bank (collecting bank).
Step 4 - The collecting bank transfers the set of documents to the correspondent bank
The collecting bank will notify the importer of the receipt of the shipping documents and request payment or acceptance of payment according to the collection instruction.
Step 5 - Importer pays/accepts draft/accepts terms:
Step 6 - Collecting bank transfers money/telegrams accepting payment to collecting bank
After receiving the payment/draft signed for payment acceptance from the importer, the collecting bank will transfer the money/send a payment acceptance telegram to the collecting bank.
Step 7 - The collecting bank pays the exporter
The collecting bank notifies the exporter of the acceptance of the draft and/or credits the payment amount to the exporter's account after receiving the money from the collecting bank
The process of using export collection is very strictly managed.
Is your business struggling to find a safe, effective and transparent international payment solution? SeABank's Export Collection Service is the key to effectively accompanying your business!
With a team of experienced experts and a network of reputable correspondent banks worldwide, SeABank offers a fast, safe and transparent Export Collection solution, helping you:
SeABank's Export Collection Service has very competitive fees.
Export collection is an important payment tool, helping businesses better control cash flow and reduce risks when trading internationally. If you are looking for a reliable banking partner to support export collection services, SeABank is the ideal choice.
With many years of experience and a wide network, SeABank is proud to be a trusted partner of businesses throughout the export journey, helping businesses increase their chances of success in the process of exporting their goods. Please contact SeABank immediately via website or Hotline 1900.599.952 (KHDN) for detailed advice and answers to all your questions about export collection services.
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