Bills for Collection in international trade is a useful instrument where the exporter is willing to dispatch goods based on an agreed period of credit to the importer. In addition, Bills for collection in international trade is also a mode of payment used for the importation of goods to Nigeria.
Benefits Of Bills For Collection In International Trade
- The buyer / importer saves time and takes delivery of goods quickly and efficiently
- it enables buyer / importer to focus on building their business
- Bills for Collection in international trade is a lower cost alternative than a Letter of Credit
- It make international trade operations to be more flexible
- There is no need for an advance payment in Bills for Collection in international trade
Parties Involved in Bills For Collection In International Trade
- Buyer / Importer / Applicant / Drawee
- Seller / Exporter / Beneficiary / Drawer
- Payee (In the case of domiciliation of proceeds)
- Importer bank / Collecting bank
- Exporter bank / Remitting bank
Requirements To Pay on Bills For Collection In International Trade
- An accepted Form M
- Customer bid letter
- Shipping documents
- Accepted bill of exchange
- Exchange control documents
We can equally provide ship agency services.
Please, contact us for your import and export requirements, local Customs clearance from the ports, freight forwarding, shipping operations, logistics, and supply chain needs