Documentary collection is an order to the Bank to receive the stated amount of funds or a confirmation that such amount of funds will be paid within a specified term. This is a less risky transaction compared to a bank transfer.
- the Bank is responsible only for the provision of shipping documents and is not obliged to make payment from the Bank's funds;
- the Bank acts only in accordance with instructions specified in the letter of collection and is not liable for delays and loss of documents during transportation if it happened not through its fault;
- goods shipment or services provision is carried out before the seller receives the payment.
UkrSibbank managers will provide you with a consultation concerning the execution and potential risks in using documentary collection.
For detailed information about UkrSibbank services, please contact the information and reference service at 729 (free for mobile calls) or 0 800 505 800 (free calls within Ukraine).