Entrusted by a correspondent bank, and according to their instructions, Bank of China U.S.A. collects import payments and delivers relevant commercial documents to the importer.
Inward collection has two forms including Documents Against Payment (D/P) and Documents Against Acceptance (D/A).
Features & Benefits
Low banking fees help reduce financial expenses and control costs.
Compared with an L/C, the procedure of inward collection is much simpler.
The trading documents are delivered through banks with the payment or acceptance to payment, which helps the importer and exporter build trust with each and facilitate trade activities.