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Collections is a frequently used payment method in international trade
Firstly you agree with the supplier that payment is to be made by Collection. The supplier then ships the goods and sends the documentation (invoice and transport documents etc.), through his bank to Nordea. We will advise you on arrival of documents and you get access to the documents against payment to Nordea or against acceptance to pay on a future date.
Abbreviations used in connection with Collections: CAD, D/P, D/A.
Your benefits with Collections
- you avoid advance payment
- you can obtain credit
- the banks involved will act according to the internationally accepted rules of the International Chamber of Commerce.