Right for you if:
Your company is shipping goods on a collections basis
You are an export customer with high volumes
- Direct Collections
- Electronic Solutions
The main risk of shipping goods on a collections basis is that you have no guarantee of payment once you have shipped the goods.
By entrusting your shipping documents to us, you can ensure that foreign buyers cannot take possession of the goods until either payment is made or a bill of exchange has been accepted.
If you have given your buyer credit terms, you may be able to discount the accepted draft, either on a recourse or a non-recourse basis.
If you are an export customer with high volumes, reduce processing time and accelerate payments:
- Prepare and mail the collection documentation directly to the collecting bank in the buyer's country
- Instructions are provided for the remittance of the proceeds directly to your Scotiabank account
- We will follow-up on your behalf if payment is not received
Prepare direct collection letters online with this quick, convenient service.
Our Internet-based service enables you to prepare an export bill collection cover letter and send the documents directly to the collecting bank.