Whether the documentary collections provides sufficient security or whether the documentary letter of credit will be a better solution; which form of documentary collection is the most suitable — UBB can help you to find the optimal solution for you.

UBB processes:

• Documents against payment
• Documents against acceptance
• Clean collection – collection of financial documents such as bills of exchange, promissory note, etc.

Export documentary collection

After the exporter has shipped the goods to the buyer, he deposits with his bank the export documents accompanied by an application for documentary collection.

In the application form for documentary collection the exporter:

1. Completes the buyer's data (Drawee under the documentary collection)
2. Completes the data of the buyer’s bank (Collecting bank)
3. Describes the goods
4. Describes the attached documents
5. Gives written instructions on the conditions under which the documents are to be delivered to the payer
6. UBB processes and sends the documents to the drawee’s bank (Collecting bank)

Depending on the instructions, the collecting bank transfers the documents to the Drawee against payment of their value or against acceptance (a written commitment for payment on maturity) or free of payment.

Important: In the case of export documentary collection the bank processes the provided documents in compliance with the instructions of the exporter regarding the manner of their delivery to the buyer but has not commitment for payment to the exporter. The payment depends only on the buyer.

Import documentary collection

UBB processes and delivers to the importer the documents received from the bank of the exporter against payment (documents against payment) or against acceptance of a bill of exchange (documents against acceptance) depending on the instructions of the exporter.

Important: If you have received documentary collection you should not pay the amount due directly to the seller through a free (credit) transfer. The payment through a free (credit) transfer does not release you automatically from the commitment for payment under the received collection and UBB cannot give you the documents without receiving an additional authorization from the bank of the exporter.

Tariff of Fees and Commissions for Legal Entities and Sole Traders

You can order documentary export collection by completing an Application for documentary.

You must deposit the application together with the accompanying documents at the servicing office of UBB.