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Documentary Collection

Peace of mind when doing business internationally

Do business with greater security

  • Keep control of your goods (sea freight)
  • Usually only pay after goods ship
  • The bank is intermediary

Request to issue a Documentary Export Collection

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Please note: ABN AMRO is not obliged to process your request.

When requesting a Documentary Collection for the first time please call Trade Finance Operations first on +31 (0)10 - 402 47 65 (local rates apply).

The bank is your trusted party for document delivery and payment, but they do not guarantee payment. You or your customer does not receive the documents until the payment terms are met. That's how you keep control of your goods.

Documentary Collection features

What is a Documentary Collection?

A Documentary Collection means that the bank acts as an intermediary. The exporter provides all the trade documents, and the importer receives the documents once they have paid the collection amount or accepted a bill of exchange. Once they have the documents, the importer can usually take receipt of the goods.

So a Documentary Collection is a kind of documentary payment transaction.

Please note

A Documentary Collection is a means of payment, not a guarantee for payment by the importer. The exporter bears the risk of the importer failing to pay. The banks involved do not assume a payment obligation. They will only assume a payment obligation when an ‘aval’ is provided. This is when the collecting bank guarantees a bill of exchange on the maturity date. Take a look at the information answering the frequently asked question ‘What are the different types of Documentary Collection?’.

Parties involved
  • Drawer: the exporter and party applying for the Documentary Collection.
  • Drawee: the importer receiving the Documentary Collection.
  • Remitting bank: the bank to which the exporter submits the collection order. This bank subsequently sends the trade documents with instructions to the collecting bank. 
  • Collecting bank: the bank settling the Documentary Collection with the importer as per the remitting bank’s instructions.
Here’s how it works
  1. Let’s say that one of the terms of a sales contract or trade contract is that payment is to be made through a Documentary Collection transaction. The parties have also agreed which documents the exporter has to submit to the importer.
  2. The exporter sends all the documents, along with collection instructions, to their bank, which then forwards these documents to the importer’s bank.
  3. The importer receives the documents after payment or after accepting the bill of exchange in line with the collection terms.

Watch the video below for further explanation of the steps.

Good to know
  • The use of a Documentary Collection is governed by international regulations published by the International Chamber of Commerce (ICC). These rules are laid down in the Uniform Rules for Collections (URC 522), a copy of which can be ordered from ICC .
  • There are different types of Documentary Collection. See the frequently asked questions at the bottom of the page for the full list.
  • A Documentary Collection is not a guarantee of payment. The importer is under no obligation to pay or accept the documents. The exporter bears the risk of the importer not being able or willing to pay while the goods have already shipped.
  • With a Documentary Collection, there is a chance of documents going missing in the post (‘lost in transit risk’). ABN AMRO cannot be held liable for this risk, unless ABN AMRO made a manifest error when sending the documents.
  • When sending trade documents to ABN AMRO, please give clear delivery instructions to your postal carrier. Make sure your documents are physically handed in at the relevant ABN AMRO branch and not at a service point, if the ABN AMRO branch is closed for example. ABN AMRO will not collect the documents from a service point and does not accept any responsibility or liability for documents dropped off at a service point.
  • A bill of exchange or trade bill is an unconditional, written payment order, possibly for payment in a foreign currency, and payable on a future date or immediately. It can also be part of a Documentary Collection. Read the frequently asked questions on this page to find out more about bills of exchange and how they work.
Fees

We charge a collection commission and postage for a Documentary Collection. We also charge fees for additional services.

Take a look at the  list of fees .

Choice guide

If you’re not sure whether a Documentary Collection is right for you, answer the questions in our International Trade Guide (in Dutch) and find out which solution covers your trade risks best.

Or get in touch with our Trade Finance Operations by calling +31 (0)10 402 54 44 (local rates apply). We’ll be happy to help.

Complete the choice guide (in Dutch)

Documentary Collection features

What is a Documentary Collection?
Parties involved
Here’s how it works
Good to know
Fees
Choice guide

What is a Documentary Collection?

A Documentary Collection means that the bank acts as an intermediary. The exporter provides all the trade documents, and the importer receives the documents once they have paid the collection amount or accepted a bill of exchange. Once they have the documents, the importer can usually take receipt of the goods.

So a Documentary Collection is a kind of documentary payment transaction.

Please note

A Documentary Collection is a means of payment, not a guarantee for payment by the importer. The exporter bears the risk of the importer failing to pay. The banks involved do not assume a payment obligation. They will only assume a payment obligation when an ‘aval’ is provided. This is when the collecting bank guarantees a bill of exchange on the maturity date. Take a look at the information answering the frequently asked question ‘What are the different types of Documentary Collection?’.

Parties involved

  • Drawer: the exporter and party applying for the Documentary Collection.
  • Drawee: the importer receiving the Documentary Collection.
  • Remitting bank: the bank to which the exporter submits the collection order. This bank subsequently sends the trade documents with instructions to the collecting bank. 
  • Collecting bank: the bank settling the Documentary Collection with the importer as per the remitting bank’s instructions.

Here’s how it works

  1. Let’s say that one of the terms of a sales contract or trade contract is that payment is to be made through a Documentary Collection transaction. The parties have also agreed which documents the exporter has to submit to the importer.
  2. The exporter sends all the documents, along with collection instructions, to their bank, which then forwards these documents to the importer’s bank.
  3. The importer receives the documents after payment or after accepting the bill of exchange in line with the collection terms.

Watch the video below for further explanation of the steps.

Good to know

  • The use of a Documentary Collection is governed by international regulations published by the International Chamber of Commerce (ICC). These rules are laid down in the Uniform Rules for Collections (URC 522), a copy of which can be ordered from ICC .
  • There are different types of Documentary Collection. See the frequently asked questions at the bottom of the page for the full list.
  • A Documentary Collection is not a guarantee of payment. The importer is under no obligation to pay or accept the documents. The exporter bears the risk of the importer not being able or willing to pay while the goods have already shipped.
  • With a Documentary Collection, there is a chance of documents going missing in the post (‘lost in transit risk’). ABN AMRO cannot be held liable for this risk, unless ABN AMRO made a manifest error when sending the documents.
  • When sending trade documents to ABN AMRO, please give clear delivery instructions to your postal carrier. Make sure your documents are physically handed in at the relevant ABN AMRO branch and not at a service point, if the ABN AMRO branch is closed for example. ABN AMRO will not collect the documents from a service point and does not accept any responsibility or liability for documents dropped off at a service point.
  • A bill of exchange or trade bill is an unconditional, written payment order, possibly for payment in a foreign currency, and payable on a future date or immediately. It can also be part of a Documentary Collection. Read the frequently asked questions on this page to find out more about bills of exchange and how they work.

Fees

We charge a collection commission and postage for a Documentary Collection. We also charge fees for additional services.

Take a look at the  list of fees .

Choice guide

If you’re not sure whether a Documentary Collection is right for you, answer the questions in our International Trade Guide (in Dutch) and find out which solution covers your trade risks best.

Or get in touch with our Trade Finance Operations by calling +31 (0)10 402 54 44 (local rates apply). We’ll be happy to help.

Complete the choice guide (in Dutch)

For exporters

How a Documentary Collection works for export.

For importers

Everything you need to know about Documentary Collection for import.

Amending a Documentary Collection

Easy for clients to change online.

Online overview

Regular user of documentary payment transactions? Try Extradeal.

How does a Documentary Collection work?

Watch the video with a brief explanation of how a Documentary Collection works.

FAQ

Who is a Documentary Collection intended for?

A Documentary Collection is intended for customers with a business account who want to perform international transactions. And it’s an accepted method if you already have a bond of trust with your business partner.

If you are an exporter, a Documentary Collection is the best option in the following cases:

  • sea freight (control over goods with a Bill of Lading) 
  • transactions with business partners you know and trust 
  • when exporting commonly traded goods
What are the different types of Documentary Collections?
  • Documents Against Payment (D/P)
    This is when you instruct us to submit the documents to the buyer through a local bank, in exchange for payment of the agreed collection amount. With this kind of Documentary Collection, the buyer is asked to pay immediately upon receipt of the documents from the bank. There is no payment obligation, neither for the buyer nor for the bank.
  • Documents Against Acceptance (D/A)
    This kind of collection means that you have agreed to deferred payment. For example, this could be ‘Payment 30 days after invoice date’ or ‘Payment 90 days after B/L date’. You will then have to enclose a time bill of exchange with the documents, which the buyer will need to accept on receipt of the documents from the bank.

    Please note: the bill of exchange may still be unpaid on the maturity date, even though the buyer already has the goods. The collection and bill of exchange do not therefore constitute a payment obligation for the local bank involved. If the buyer has still not paid on the maturity date, the seller will either have to renegotiate payment with the buyer or consider taking legal steps against the buyer.
Want to defer payment, but with a greater security? 
  • Documents Against Acceptance + Aval
    If you want more security, choose a D/A plus Aval. ‘Aval’ stands for ‘avalisation’. This means that your client’s bank is asked to guarantee payment of the bill of exchange on the maturity date. Of course, the question is whether or not the importer’s bank is willing to guarantee payment.
What is a bill of exchange and how does it work?

See the document below for more information about bill of exchange.

Bill of exchange leaflet: how to fill in a bill of exchange

How do I track the status of my documents with the DHL shipping number?

You can track the status of your documents using the tracking (airway bill) number. A condition for tracking documents is that they must have been picked up and registered by DHL Nederland. Follow the instructions below to track the status of your documents.

Click on the DHL website.

Enter the following details: 

  • Shipment Reference. DHL uses ABN AMRO’s reference number as the Shipment reference. Example: reference number NLHU1234567 (without further additions, such as E001). It is important that you enter all the capital letters indicated. 
  • Date range for shipment: from. Select the date when the documents were sent to ABN AMRO.
  • Date range for shipment: to. The last possible date is the current date.
  • You do not have to enter anything in the Account Number or Destination fields. 
If you have any questions about this procedure, contact Trade Finance Operations on +31 (0)10 402 47 65 (local rates apply).
What does it mean to endorse a bill?

Endorsing a trade bill means that you’re using it as a means of payment. The trade bill can be signed over to another party by placing a signature and company stamp on the back. Bills of Lading and insurance policies can also be signed over in this manner.

Is there a way for me to receive the money sooner?

You have agreed with your client that they will pay the time bill of exchange on a certain date in the future. If you decide you want to receive the money sooner, you can ask us to discount the bill of exchange. This means that you sell the time bill of exchange to us and we will deduct a fee and discount interest from the amount due.

This option is available only for Documents Against Acceptance with Aval.

For more information, call our Trade Finance Operations on +31 (0)10 402 54 44 (local rates apply).

Where do I send a Documentary Collection?

Send your Documentary Collection and/or associated documents by courier or registered post to the following address:

ABN AMRO Bank N.V.
Trade Finance Operations
Coolsingel 131-133
3012 AG Rotterdam
The Netherlands 

Send all other correspondence to this address:

ABN AMRO Bank N.V.
Trade Finance Operations
Postbus 949
3000 DD Rotterdam
The Netherlands

What is the difference between a Documentary Collection and a Letter of Credit (L/C)?

If you and/or your trading partner want greater security when doing business internationally, a Documentary Collection might be a good option. A Documentary Collection means that the banks act as intermediaries for document delivery and payment processing, but do not guarantee payment.

With a Letter of Credit, on the other hand, one of the banks involved does guarantee payment. The importer’s bank undertakes to pay a certain amount once the exporter has complied with the terms of the Letter of Credit.

For help deciding which of these two products is best in your situation, you can call our Trade Finance Operations on +31 (0)10 402 54 44 (local rates apply).

What happens if the Documentary Collection remains unpaid?

You can then ask us to send a tracer to the collecting bank to check the status of the payment. We charge a fee for sending tracers. See our overview of fees and charges for details. 

In some cases, you can also issue a deed of protest. To find out more, call our Trade Finance Operations on +31 (0)10 402 54 44 (local rates apply).