Short description
Suncorp act as your agent in international financial transactions. We can assist in controlling the payment of goods that are being shipped outside a Letter of Credit. You can authorise payment on terms ranging from approval on sight to 180 days after receipt.
The benefits in dealing via Documentary Collections:
- Neither the importer nor the exporter requires any facilities with their bank to proceed with this method of payment.
- Dealing via this method offers the exporter a degree of security in the transaction, which is not inherent in an open account method provided a Bank handles all the documents of title. The bank will have control over the goods through the title documents and can arrange for one of its overseas correspondents, to release such title only against payment or an undertaking to pay.
This method is usually suited to small-medium value transactions (eg $0-$250,000.00)
| Feature |
Description |
| Amount |
Minimum drawdown amount: $1,000
No maximum amount |
| Interest options |
Not applicable. |
| Repayments |
A fee is applicable to maintain the collection. |
| Term |
Minimum: on sight
Maximum: no limit |
| Security |
No Security required, Suncorp facilitate transfer funds for payment or receipt of funds for goods traded. |
| Currency |
The Import collection can be in multiple currencies. |
| Fees |
|
Fees and charges vary for each transaction |
Please speak to a Trade Finance Specialist on +61 07 3362 1902 |
All trade finance facilities are available to approved applicants only and are subject to fees and charges. Terms and Conditions also apply. Risks are involved in utilising foreign currency products and independent legal and accounting advice should be sought in relation to the risks involved and the suitability of these products for your specific needs.
