Shaping the future of trade services


Products and Services

@GlobalTrade Systems

link_arrow Import Documentary Credit
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link_arrow Standby LC/Guarantee Issuance
link_arrow Standby LC/Guarantee Receipt
link_arrow Import Documentary Collection
link_arrow Export Documentary Collection
link_arrow Supply Chain Finance
link_arrow SWIFT To DTAEA Converter
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link_arrow Dynamic Message Converter
link_arrow Ucon
link_arrow MT798 Testing Services

 

Case Studies

link_arrow Automotive producer
link_arrow Airbus
link_arrow Siemens

 

@GlobalTrade Platform has been awarded with the SWIFTReady for Corporates Trade & Supply Chain Finance label

swift for corp

 

Import Documentary Collection System

@GlobalTrade Import Documentary Collection system is a web-based solution enabling treasury to electronically receive documents presented on collection terms from its banks. Treasury can chose to allocate received collections to respective business units. Once authorized treasury and/or business unit users have reviewed the transaction the bank can be instructed electronically regarding the disposition of documents. Banks can access the system to send and receive authenticated messages to communicate on any collection matters.


Benefits for corporates

  • Electronic notifications and alerts of new collections received
  • Improved monitoring and control
  • Faster processing of import documentary collections
  • Improved efficiency in collection handling
  • Easy creation of reports



Import Documentary Collection


When are Import Documentary Collections used?

Import Documentary Collections cover the buyer against performance risk; the buyer only pays once they have received the goods or service. If agreed with the seller beforehand, there's always the option to pay later after receiving the goods. After the goods are shipped, the Seller presents shipping documents, together with their instructions, to their bank. The Seller's bank then forwards them to the Buyer’s bank to arrange payment. The Buyer’s bank acts on behalf of the Seller's bank to collect the payment from the Buyer. A promise to pay usually involves the Buyer accepting a Bill of Exchange (a document which is signed stating payment will be done immediately, or at a later date). Under the Collection agreement, the Buyer’s bank will not release the shipping documents to the Buyer until they have signed the Bill of Exchange.
http://www.rbs.co.uk/