NORVIK BANKA offers clients who are dealing with export and/or import of goods the opportunity to use documentary collection. Documentary collection is a documentary payment form widely used in international trade. The exporter´s bank by the order of the exporter sends the documents by post to the importer through his bank. The documents are issued to the importer against payment or acceptance of a Bill of Exchange. An exporter should know that the banks do not undertake the payment liabilities while dealing with documentary collections. Therefore, documentary collection is usually used between trusting partners.
NORVIK BANKA acts on the instructions of the foreign exporter´s bank, i.e. issues the documents to the importer against the payment or acceptance of Bill of Exchange.
For exporters:
Clients of NORVIK BANKA who are exporting goods submit aCollection Order and documents to the bank. NORVIK BANKA acts on the instructions of the foreign exporter. The Bank credits the exporter´s account with the proceeds received from the importer´s bank.
