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Export Documentary Collections 

This can be a faster and more economical way to receive payment for goods

Reduce the risk of non-payment 

By entrusting your shipping documents and collection instructions1 with us , you can help  ensure that buyers only take possession of the goods after they’ve paid or committed to payment

The Export Documentary Collections process helps to speed up payment and reduce processing time

Banks follow up for payments on behalf of the Seller

Export Documentary Collection Process

1. The Seller ships the goods to the Buyer and receives documents from a logistics company handling the shipments (e.g. Bills of Lading or Airway Bill).

2. The Seller presents the shipping  documents to Scotiabank with collection  instructions for obtaining payment.

3. Scotiabank sends these  documents to the Buyer’s Bank.

4. The Buyer’s Bank contacts the Buyer and informs them under which conditions the documents will be delivered to them. The Buyer can check whether all documents have been enclosed as stipulated in the contract. The Buyer’s Bank releases the documents to the Buyer on receipt of payment or acceptance of the draft.

5. Having received payment, the Buyer’s Bank forwards proceeds to Scotiabank.

6. Once payment is received, Scotiabank credits the Seller’s account.

Frequently asked questions

For specific questions relating to Trade Finance, please contact:

Anupinder Singh
Director, Trade Finance Commercial Sales
Email: anupinder.singh@scotiabank.com
Phone: 1-437-237-4134