Overview

Import Bill Collection is a mode of payment for international trade where the seller forwards financial and/or commercial documents to the buyer, against which the payment is made.

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Features &
Benefits

Features & Benefits

  • imgExpedite processing of your import bill collections
  • imgWide network of branches to enable collection at an Axis Bank branch near you
  • imgConvenient online channel for Bill of entry regularisation.

How it works?

 

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The seller and buyer agree to conduct business and agree that payment be made on the basis of a documentary collection.
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The seller ships the goods and tenders the documents to his bank (Remitting bank) to-gether with a corresponding collection order.
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The seller's bank forwards the documents along with its collection instructions to Axis Bank, the buyer's bank (Collecting bank).
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Buyer's bank notifies the buyer of the arrival of documents, for his payment/acceptance.
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In case of: – Documents against Payment (DP), the buyer pays the amount due– Docu-ments against Acceptance (DA), the buyer accepts the draft and gives an undertaking to pay on a later date (maturity date).
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After providing payment or acceptance of payment, the buyer receives the documents us-ing which he takes possession of goods.
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Buyer's bank remits the amount to the seller's bank which further credits the amount to the seller’s account.
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Fee &
Charges

Fee & Charges

SOC - Trade

 

Related Products

 

Disclaimer:

Product offering is subject to certain eligibility criteria as per Bank's internal policy and is subject to Bank's discretion