Barclays Wealth

Documentary collections

Collections are a fast, simple and efficient tool for collecting payments and settling debts. They can be used to make payments of any size and in any freely traded currency.

How does a documentary collection work?

• You and your suppliers agree payment terms in advance.
  These can be on immediate presentation of the collection (sight payment) or on your written acceptance to pay the bill of exchange at an agreed or determinable future date (term payment).
• Documents allowing access to the traded goods will be sent to us by your supplier.
  These are generally accompanied by an invoice and a bill of exchange drawn on you.
• A collection schedule guarantees document control.
  It acts as a checklist for the documents that allow access to the traded goods and specifies the necessary conditions for their release.

The benefits of documentary collections

• Improved cash flow.
  By using collections as opposed to trading on open account terms, you may be able to negotiate a credit period for term payment from your supplier. You may also be able to convince your supplier to pay the cost of collection.
• Convenient door-to-door service.
  We can release documents to you as part of a 'trust facility'. This service enables you to have collections delivered direct to your door within 48 hours after we receive them. You are then given 10 days in which to examine the documents and return them to us with your further instructions. If you’re eligible to receive this service, it will be offered to you completely free of charge.

Find our more about our documentary collections

To learn more about how Barclays Wealth could help your business, please contact us and we'll be in touch as soon as possible.

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