Export Collections Factsheet PDF, 346KB
Export collection is a frequently used payment method in international trade. If you choose to send shipments by sea and the payment term is CAD (cash against documents), export collection can be a way to secure your payment after shipment of the goods or at least to remain in control of your goods.
After an agreement is made with the buyer to use collection, you ship the goods and send the documentation (invoice and transport documents etc), to Nordea, which will forward the documents to the buyer's bank. The buyer will get access to the documents after paying the invoice or accepting to pay on a future date.
The bank monitors the collection instructions and will credit your account when the funds have been received from the buyer’s bank.
You can process your collections and follow their status via Trade Finance Global.
For more information about export collections or how we can support your business, please contact your local Nordea Trade Finance Adviser.