Documentary Collection Or Bills For Collection (Bc)
(Inward – For Local Importer; Outward-for Local Exporter)
“Collection” means the handling by banks of documents in accordance with instructions received from Remitting/Beneficiary’s bank, in order to: International Rule guiding documentary Collection is URC522 Obtain payment and/or acceptance, or Deliver documents against payment and/or against acceptance, or Deliver documents on other terms and conditions
Kindly note that terms and conditions apply.
Communication between seller and buyer is secured and not made public.
Less Complicated when compared to Letter of Credit process.