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Letters Of Credit Funding
Collection Schedule

All collections are subject to the latest version of Uniform Rules for Collections available from the ICC.

Banks are not obliged to examine documents, it is therefore important that the covering schedule contains full and precise instructions. The banks will only act on the Exporter's instructions that are given on the schedule or any subsequent amendments.

Goods should not be dispatched directly to the address of a bank or consigned to a bank without their prior agreement.

Banks are under no obligation to undertake storage and insurance of the goods. Some countries' regulations prohibit this. Normally for this to be possible, a document of title (eg. Bill of Lading) must be included.

Documentation

The collection schedule is presented to the Exporter's bank accompanied by the documents mentioned on the form.

Payment
It is important that the payment terms are correctly stated as this will affect the date of payment by the Importer and the amount of charges deducted by the Presenting Bank.

An example of a Collection schedule in PDF format*


*Adobe.com will allow you access to PDF files.

 
 
   

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