Benefit from SNB's knowledge of local market practices and sources of funding
AlAhli Documentary Collection is a payment mechanism by which the bank collects payments on behalf of the seller by delivering the documents to the buyer. It is used when the buyer and seller are already familiar with each other and a degree of trust exists between them.
Documentary Collection benefits both the seller and the buyer in the following ways:
- As an alternative to opening accounts or cash advances
- Uncomplicated and inexpensive
- Fewer formal requirements
- The title to the goods does not pass to the buyer until a payment date is accepted
SNB also offers an even more secure Documentary Collection Service called 'Avalization of drafts' whereby SNB guarantees the payment at maturity of the drafts accepted by the buyer.
Our Trade experts will provide you with advice on any aspect our AlAhli Documentary Collections Service.