Import Documentary Collections
Import Documentary Collections are instruments issued by international banks in the export trade. The services rendered by our bank concern advising you of the shipment having taken place, collecting from you the payment for remittance to your supplier’s designated bank and simultaneously releasing to you the shipping documents that you need to clear the goods.
Benefits
- Facilitate your imports from different countries
- Ensure that what you order is what you get
- Enhance your international business reputation by complying with the payment terms
- Pay upon arrival of merchandise
- Option to pay later
Uses for documentary collections:
- To avoid down payments or advance payments
- To negotiate credit terms with a familiar or recurring supplier (acceptances)
- To simplify the process of buying goods from overseas
Once the merchandise you have bought from your international supplier has been shipped, originals of the documents of title, invoice, insurance and shipping documentation (airway bill / bill of lading) are forwarded to our bank, as intermediary, in evidence of shipment, and indicating the payment terms.
Sight Draft
In case of a sight draft, the documents will be released to you against immediate payment from your account.Acceptance
In case you have negotiated credit terms with your supplier you only need to sign a draft for formal acceptance and pay for the goods at a later date.
Having an Operating Account and instructing your supplier to use the intermediary of our bank for handling the documents on their behalf.
Customer Support
Account and service information are just a phone call away.For information on an incoming collection, just call:
During business hours (8:00am to 4:30pm AST):
Aruba Bank Collection Department: (+297) 527-7860
For questions regarding the product features, please call:
Aruba Bank Corporate Customer Services or your Corporate Account Manager: (+297) 527-7774
Useful Tips
Sign up for Text Banking and inquire or receive regular updates on your current balance while on the go by simply using your mobile phone
Do you have questions?
Contact our Contact Center during office hours at (297)527 7777.
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