Documentary collections give exporters more control by ensuring payment or a bill of exchange has been accepted before the buyer takes control of goods. By entrusting your shipping documents to Scotiabank, you can ensure that the buyer cannot take possession of the goods until either payment is made or a bill of exchange has been accepted.
If you have given your buyer credit terms, you may be able to discount the accepted draft at Scotiabank, on a recourse or non-recourse basis, depending on the buyer’s creditworthiness.
Direct collections are an alternative method of collection for high-volume export customers. The direct collections approach reduces processing time and accelerates payment because you or your freight forwarder can prepare and mail the collection documentation directly to the collecting bank in the buyer's country.
Instructions are provided for the remittance of the proceeds directly to your Scotiabank account. We follow up on your behalf if payment is not received.
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