A more secure way for receiving a payment than ordinary payment order
Upon using a documentary collection, the seller of the goods will send the shipping documents via the bank. The buyer will get the shipping documents from the bank after accepting an immediate payment or a term draft.
The banks handle the documentary collections according to the International Chamber of Commerce's publication No. 522: "Uniform Rules for Collections".
The bank only mediates
The greatest advantage of collection is its simplicity and cheapness.
Documentary collection does not guarantee to the seller prompt payment by the buyer or acceptance of goods.
In the collection transaction the bank only acts as an intermediary. The bank does not assume a payment obligation, but observes whether the collection requirements are met in the buyer’s country of location, reminds the buyer of the payment term and organises a quick money transfer to the seller.
Possible use of documentary collection
As the payment depends on the buyer’s wish, collection is suitable for use if the seller trusts the buyer, their solvency and the country of location (the country is economically and politically stable).
It is recommended to use collection if the shipping documents include documents granting the right of ownership. If the goods are shipped to the buyer by boat, the seller will receive the ocean bill of lading proving the right of ownership of the goods. The buyer cannot access the goods without the bill of lading. In order to receive the goods, the buyer must pay the bank the amount fixed in the collection.
Documents against payment
The buyer will get the shipping documents for the goods from its bank after paying the value of the goods indicated in the documents to the bank.
Documents against acceptance
The buyer will get the shipping documents for the goods from its bank after accepting a term draft or a bill of exchange in the respective amount. The actual execution of the payment depends on the buyer’s solvency.
1. Waiver of documents against payment or acceptance | 0,2% of the collection amount, min. EUR 95 |
2. Fee for partial payment from second payment | EUR 70 |
3. Amendment fee | EUR 50 |
4. Deferred payment fee | EUR 32 |
5. Waiver of documents without payment or acceptance | EUR 50 |
6. Fee for refusal or cancellation | EUR 70 |
7. Re-assignment of the right of ownership to goods if the goods are sent to the name of AS SEB Pank | EUR 50 |
8. Information processing and forwarding fee | depending on costs, min. EUR 10 |
9. Default interest (calculated on any debt from due date until actual date of payment) | 0,5% per day |
NB! The services charges of another bank may be added if another bank is used.
AS SEB Pank reserves the right to charge for additional services and/or time-consuming transactions in addition to the price list.
Tähelepanu! Teie veebilehtiseja ei vasta SEB kodulehe külastamiseks vajalikele nõuetele. Palun vahetage veebilehitsejat või seadet, millega te veebilehte sirvite.
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