Collections
In connection with both export and import transactions
- In the case of Clean Collections the subject of the collection is a clean draft, i.e. there are no adhering trade documents in the financial operation.
- In the case of Documentary Collections the claim is supported by a Commercial Invoice, Transport Documents (e.g. Railway Bill Duplicate, Marine Bill of Lading) and other documents (e.g. Insurance Policy, Certificate of Origin) which our principals submit right at the time of giving the collection order.
- In the case of Combined Collections the claim is supported by a clean draft accompanied by commercial/ transport documents or other documents.
CIB handles collections in accordance with the prevailing "Uniform Rules for Collections" of the International Chamber of Commerce, Paris (currently URC no. 1995/522 of ICC).
For further information please contact our experts on phone number (36-1) 423-2523 or fax: (36-1) 489-6546.
