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Import Bills Collection

Import Bill Collection is a mode of payment for international trade where the seller forwards financial and/or commercial documents to the buyer, against which the payment is made.

Features & Benefits

  • Expedite and simplify processing of your import bill collections.
  • Wide network of branches to enable collection at Axis Bank branch nearest to your location.
  • Convenient online channel for bill of entry regularisation and MIS.
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How it works

Understanding the process can simplify transactions and ensure smoother international trade. Here’s a step-by-step guide to how it operates

  • 01

    The seller and buyer agree to conduct business and agree that payment be made on the basis of a documentary collection.

  • 02

    The seller ships the goods and tenders the documents to his bank (Remitting bank) together with a corresponding collection order.

  • 03

    The seller's bank forwards the documents along with its collection instructions to Axis Bank, the buyer's bank (Collecting bank).

  • 04

    Buyer's bank notifies the buyer of arrival of documents, for his payment/acceptance.

  • 05

    In case of:– Documents against Payment (DP), the buyer pays the amount due– Documents against Acceptance (DA), the buyer accepts the draft and gives an undertaking to pay on a later date (maturity date)

  • 06

    After providing payment or acceptance of payment, the buyer receives the documents using which he takes possession of goods

  • 07

    Buyer's bank remits the amount to the seller's bank which further credits the amount to the seller’s account

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