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Export Documentary Collections
Fifth Third Bank can act as your trusted intermediary for payment collection, so you can retain control.
In a documentary draft collection, we use operational capabilities and secure communication technology on both ends of the transaction to help assure that documents are only released to foreign buyers after receiving payment or a binding promise to pay.
Using a sight draft (also known as a “bill of exchange”) accompanied by properly consigned ocean bills of lading or multimodal transport documents, ensures that title to the goods will only legally pass if the buyer pays. It’s important to note that the bank acts only as a collection agent and assumes no liability for payment.
When you work with our experienced Fifth Third Bank Export Documentary Collections team, we can help provide you with:
- Quick payment (with sight draft collection)
- Minimal document requirements
- Control over your documents until payment is made, or a draft (formal payment obligation) is accepted
- Financing receivables using Bankers' Acceptances
- The ability to initiate Export Documentary Collections online through Fifth Third Global Trade DirectSM.
Find out more about Fifth Third Bank Export Documentary Collections. Contact a Global Trade Solutions Sales Representative or Product Specialist.
We Also Recommend...
Extend credit to your foreign customers and sell or borrow against the foreign receivables. Use our Export Financing to fund export-related inventory by accessing programs available through a wide variety of providers including the Export-Import Bank of the United States and the Small Business Administration.
- Loans subject to credit review and approval.
- Deposit and credit products offered by Fifth Third Bank. Member FDIC