Documentary Collections and Proof of Funds Documents: Merchant Credit and Guarantee Corporation

Merchantcreditcorp21 Aug, 2021Business

Documentary Collections give an advantage to both exporters and importers. Under Documentary Collections, the documents will not be provided to the buyer unless the payment or acceptance of the time draft has been received via the buyers bank. For exporters, it gives a considerable warranty of payment and faster collection times. Until the payment is made by the importer the title of goods remains to the exporter. Importers have the surety that they will make the payment of goods at a given time and they can review the copy of the document before making payment.