Export Bills on Collection
Solution to simplify collection of export proceeds
Through this facility, you can present documents to your Buyer's (Importer's) Bank to collect the export proceeds on your behalf.
1. Hassle free collection of export proceeds through our correspondent network and quick processing of documents.
2. Tie-ups with internationally reputed Courier agencies to ensure prompt, efficient and timely dispatch of your documents.
3. Follow up with the collecting bank on non-receipt of payment and support for regulatory compliance.
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 Axis bank (Remitting bank) along with the collection instructions.
3. Axis 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 Axis bank.
7. Axis Bank credits the amount to the seller’s account.
Product offering is subject to certain eligibility criteria as per Bank's internal policy and is subject to Bank's discretion