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Outward Bills For Collection (OBC)
The Bank handles your outward documentary collections (domestic & foreign) and facilitates the payment collection from your buyer in accordance to your instructions.
Features
Documentary collection is presented either against Payment (D/P) or against Acceptance (D/A).
The Bank acts as an agent to collect payment in accordance to your instructions.
An accepted Bill of Exchange is a promise of payment by your buyer at maturity.
Benefits
Minimise Risk
Allow you to retain control of goods until buyers make payment or give their acceptance.
Local and Foreign Transanctions
Ease your doubts as OBC is applicable for both local and foreign transactions.
No Credit Facility
No credit facility required to enjoy the Collection service.
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Immediate advance to exporters or sellers against presentation of compliant documents without the need of pre-approved trade facilities.
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Handling of foreign and domestic inward collection documents for buyer/importer based on settlement term agreed with supplier/exporter.
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