The collection process

The figure below shows the collection process from start to finish. Please contact us at any time if you want to know more.

Collection process

  1. The contract stating the payment method and shipment terms is made between the importer and exporter. 
  2. The exporter sends the documents to its bank with instructions for delivery. 
  3. The exporter's bank sends the documents to the importer's bank together with the exporter’s instructions. The documents can be released to the importer only against payment, except in the case of a term bill of exchange. In this case, the instructions usually stipulate that the documents are to be released against acceptance of the bill with subsequent presentation for payment on the due date. 
  4. The importer's bank hands the documents to the importer on payment or acceptance of a bill of exchange. 
  5. The exporter receives payment.
  • Print page
  • Sitemap

Contact us Contact us

You can contact us 24 hours a day. 

Write to usCall us

Want to know more?

Corporate & Institutions
We offer market leading advice and services to our Irish large corporate and institutional clients.

Find out more
Download fact sheet

Read more about Trade Finance products and services.

Download fact sheet on Documentary Credits (PDF169 KB)
Download fact sheet on Guarantees (PDFPDF 86 KB)
Download fact sheet on Collection (PDF 96 KB)
Download fact sheet on Business eBanking (PDF90 KB)

Download Adobe Reader® to read pdf files.