Product Definition  

　　Export Documentary Collection (referred to as Export Collection hereafter) is an international settlement method where the consignor, after the shipment of goods, issues documents and entrusts the collecting bank to collect payment from the payer through an agent bank.

　　Product Functions  

　　It is used to meet the needs of international trade settlements. Compared to remittance, it offers some payment security and is divided into two methods: Documents Against Payment (D/P) and Documents Against Acceptance (D/A).  

　　Product Features  

　　1. Compared to letters of credit, export collection incurs lower bank fees, thereby reducing financial costs for businesses. Additionally, the procedures involved are more straightforward.  

　　2. The importer can only take possession of the goods after acceptance or payment, which mitigates the exporter's risk compared to open account sales.  

　　Applicable Clients  

　　1. Exporters are aware of the importer's credit status and have sufficient funds for preparing and shipping goods.  

　　2. In a seller's market, exporters are advised to select the Documents against Payment (D/P) method. Conversely, in a buyer's market where the importer seeks financing convenience, exporters may choose the Documents against Acceptance (D/A) method.

　　Application Conditions  

　　1. Enterprises that are legally registered with a valid business license, having undergone annual inspections or possessing other valid documentation that verifies their legal operations and defined scope of business activities, and listed in the company registry.  

　　2. Enterprises with strong credit standing and a genuine, legal, and compliant trade background.  

　　3. You should submit: a collection authorization form, a complete set of documents for documentary collection, and other relevant materials.  

　　4. Other conditions as required by Harbin Bank.  

　　Processing Procedure

　　1. After preparing and shipping goods, the exporter submits the relevant documents to Harbin Bank for collection.  

　　2. Harbin Bank sends the collection documents to the foreign remitting bank for collection.  

　　3. The foreign remitting bank presents the documents to the importer.  

　　4. The importer makes the payment to Harbin Bank through the remitting bank upon maturity, and Harbin Bank disburses the payment to the exporter.