Export Bills for Collection

An Export Bill for collection is a process whereby an Exporter can rely on international banking channels to control document movement and release. Under export collections, the customer can instruct Standard Chartered Bank (the “Remitting Bank”) to send commercial documents (such as invoices, Bills of lading or Airway Bills) or financial documents (such as Bills of Exchange) on a collection basis to a Collecting Bank / Presenting Bank) in the customer‟s buyer’s country. Upon receipt of such documents, the Presenting Bank will then release documents against payment (if the collection instruction calls for documents against payment or D/P) or against acceptance (if the collection instructions call for documents against acceptance or D/A) from the customer‟s buyer, and strictly in accordance with instructions from Standard Chartered Bank.

For export bill collections, Standard Chartered Bank is not obliged to check the contents of the documents (though typically, Standard Chartered Bank will examine the customer‟s bills of exchange, invoices and shipping documents for consistency as a value-added service). Standard Chartered Bank will, however, ensure that all documents submitted as indicated in its‟ standard request for handling export bills form are received and the customer instructions detailed thereon are acted upon.