Export Documentary Collection

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Overview

Direct your document collection activities through the bank and avoid the hassles of realisation. Our well‑spread correspondent network supports your transactions across geographies. You retain control of goods through documents until payment is made or a promise to pay is accepted by your buyer.

Features & Benefits

Faster receivable turnaround with streamlined document handling

Handle collections in multiple currencies

Book foreign exchange rates through our online portal for better rate certainty

Dedicated Trade Desk for updates and guidance throughout the collection process

How it works

1

The seller and buyer agree to conduct business and agree that payment be made on the basis of a documentary collection.
2

The seller ships the goods and tenders the documents to IDFC FIRST Bank (Remitting bank) along with the collection instructions.
3

IDFC FIRST Bank sends the documents to the buyer's bank (Collecting bank) mentioning the collection instructions.

4

Buyer's bank notifies the buyer of arrival of documents, for its payment/acceptance.
5

The buyer pays the amount due or accepts the draft and in turn receives the documents.

6

Buyer's bank remits the amount to IDFC FIRST Bank.
7

IDFC FIRST Bank credits the amount to the seller’s account.

Schedule of Charges

Click here to view all charges

Export
Documentary Collection

Overview

Features & Benefits

How it works

Schedule of Charges

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