A generally cost-effective way around Letters of Credit for those who are unwavered by transactional security.
Get StartedWhen goods are shipped to an importer, SCB holds custody of the title documents, until the payment is received or acceptance is attained from the importer.
Since Documentary Collections do not provide as much transactional security as Letters of Credits they are inherently less costly. This offers more competitive pricing options to our clients.
SCB is strategically positioned to offer services of Documentary Collections to its clients. These are advantageous for our clients as they offer:
Buyers and Sellers can expect greater security on transactions than trading on open accounts.
Offer the potential to have "clean collections".
Important to highlight that such transactions are most useful for our clients when selling to well known customers in stable countries or when engaging in small shipments or small size transactions.
All Letters of Credit issued/advised by SCB follow the rules pursuant to UCP 600, URDG 758 or ISP 98. SCB does not advise or issue instruments that do not meet the regulations in the codes advised above.
***There are cases where others have pretended to represent and issue instruments in the name of SCB. SCB is not responsible for these issuances and bears no responsibility for those that are not authorized directly from SCB. Clients are urged to verify the authenticity of any documentation before paying fees/commissions. SCB is not responsible for any fees/commissions not paid directly to SCB. If you suspect fraudulent activity please contact us immediately.***
