Documentary Collection | Luminor

Documentary Collection is an internationally recognized and widely used type of payment relating to trade transactions among reliable partners, since it facilitates optimization of the transaction payment charges.

Benefits for the seller:

Benefits for the buyer:

How can the seller apply for the documentary collection?

1

Agree with the buyer on the type of payment

Enter into an agreement providing conditions for payment by documentary collection. Ship the goods.

2

Submit the application

Submit an order for Documentary Collection and other required documents to us.

3

We send the documents and collection order

We send the Collection order and documents to the buyer’s bank to communicate to your partner the Collection conditions.

4

The Buyer pays and receives the documents

If your partner agrees to make payment or accept the Bill of Exchange the bank delivers documents to the buyer.

5

Money on your account

After the receipt of money from the buyer’s bank we credit your account.

Required documents

  • Documentary Collection order
  • Passport or eID card of the company’s representative
  • Transaction documents

Ask us about the most appropriate solution for your business in international trade!

See also: Letter of CreditGuarantee, Factoring

Important! Documentary collection is governed by the “Uniform Rules for Collections” No. 522 of the International Chamber of Commerce