Documentary Remittance

Using documentary remittance, the Seller authorises the Bank to transfer forwarding and transportation documents to the Buyer after the contractually agreed payment has been made.

Compared to the commercial letter of credit, documentary remittance is a more streamlined procedure, involving lower costs for both the Buyer and the Seller.

Documentary remittance offers the following benefits:

• For the Buyer
  Payment is made only upon delivery of goods by the Seller and transfer of the forwarding documents to the Bank.
• For the Seller
  Forwarding documents are made available to the Buyer only after the payment has been effected.

Apply for documentary remittance services at your nearest branch