Documentary collection allows you to maintain cash flow for a longer period by simplifying your trade settlements.
It enables you to negotiate credit terms and make payments immediately or at a later date. Alinma Bank manages your financial and commercial documents to avoid disrupting your credit balance, allowing you to proceed with your important business activities.
Import Documentary Collection:
In import documentary collection, the bank receives export documents from the beneficiary's bank, which prove ownership of the goods and payment instructions. At maturity or upon delivery, the bank collects the amount from the importer (the bank's client) and pays it to the exporter’s bank, noting that Alinma Bank is not obligated to pay the exporter’s bank if the amount deposited in the importer’s account is insufficient.
Advantages:
- Alinma Bank acts as the representative of the importer and handles all tasks related to commercial and financial documents.
- Regarding collections, the beneficiary receives a legal obligation for payment upon acceptance of the letter or guarantee of payment.
Our Services:
We receive delivery documents from the beneficiary's bank, notify the client of their arrival, and deliver them according to the payment or acceptance instructions based on the content of these documents.
Export Documentary Collection:
At the request of the client (exporter), Alinma Bank sends documents proving ownership of the goods and collection instructions to the bank dealing with the importer. It collects the value of the documents at maturity or upon delivery. The bank has no obligation to pay the exporter.
Advantages:
- Alinma Bank acts as the representative of the exporter, handling all commercial and financial documents.
- Regarding collections, the exporter receives a legal document (letter or guarantee of payment) granting them the right to collect.
- Collection on sight allows the exporter to retain ownership of the goods until full payment is made.
Our Services:
The bank sends the documents representing ownership of the goods and payment instructions to the importer’s bank and deposits the amount in the client’s (exporter’s) account upon payment completion by the importer.
Terms and Conditions:
- A current account at Alinma Bank.