Collection of commercial & financial documents

The advantages of collection for an importer are as follows:

• the relative simplicity and low cost of the transaction;
• the option of getting trade credit from the supplier (in the form of deferred payment);
• no payment obligation on the importer’s bank;
• the fact that it conforms to the Unified Collection Rules of the International Chamber of Commerce.

When it has accepted collection documents from an overseas bank, UniCredit Bank only makes payment with the client’s consent, after the latter has had the opportunity to look at the documents. Documents may be released to the client against acceptance by the latter of an immediate promissory note, if such an option is provided for under the terms and conditions of the contract.

 

Tariff on Import Collection

Types of Operation	Commission Rates*
Collection of commercial documents/bills of exchange against payment or/and acceptance	0.1%, min. USD 50, max. USD 300
Delivery of documents free of payment or acceptance	0.075%, min.USD 50, max. USD 150
Receiving draft acceptance	0.1%, min. USD 50, max. USD 300
Actions regarding protest (or other legal actions) in case of non-acceptance or non-payment	subject to arrangement min USD 100