Bill for Collection
Post 1 of 4
We have a customer in Nigeria who wants to purchase goods from us using Bill for Collection vis his bank. What guarantee do we have he will pay on the due date - is this a safe method of payment?
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07 Aug 2008 10:55
Post 2 of 4
Adam,
May I ?
Safe or not is depend on the Banks that involved as the guarantor to Pay !
Unless you are using the Euro bank that exist and confirm, it is not consideration as a safe one.
Especially you do not know the such bank in Nigeria ? anyway the Paying Bank is by buyer's
bank in Nigeria... Ask them which Bank is it ?
Bill of collection =
make it clear with : D/P Document against Payment ....and be guaranty / confirmed by the
( again: from a reputable European Bank for credibility which has a branch in Nigeria ).
meaning that it will be paid at once the documents be presented and collet by your Bank to His
Bank ....So, It need Prior to confirm between 2 banks before hand (do supply).
DONT try in D/A .(against acceptance).. it is not recommended for your position/condition.
Ask An Advise and Confirmation from your Bank, First.
accept or not for doing the collection by D/P to this/them ? if not then cancel it.
do not listen/rely on what they show/promise/guaranty etc.... even from their bank.
all these bank's instrument, should be confirmed and tested, verify buy your Bank as well.
Only listen to your Bank as the collecting Bank. Not by them any.
Above will out off subject discussion if the banks are : BNP Paribus, Barclay Bank, etc
May I ?
Safe or not is depend on the Banks that involved as the guarantor to Pay !
Unless you are using the Euro bank that exist and confirm, it is not consideration as a safe one.
Especially you do not know the such bank in Nigeria ? anyway the Paying Bank is by buyer's
bank in Nigeria... Ask them which Bank is it ?
Bill of collection =
make it clear with : D/P Document against Payment ....and be guaranty / confirmed by the
( again: from a reputable European Bank for credibility which has a branch in Nigeria ).
meaning that it will be paid at once the documents be presented and collet by your Bank to His
Bank ....So, It need Prior to confirm between 2 banks before hand (do supply).
DONT try in D/A .(against acceptance).. it is not recommended for your position/condition.
Ask An Advise and Confirmation from your Bank, First.
accept or not for doing the collection by D/P to this/them ? if not then cancel it.
do not listen/rely on what they show/promise/guaranty etc.... even from their bank.
all these bank's instrument, should be confirmed and tested, verify buy your Bank as well.
Only listen to your Bank as the collecting Bank. Not by them any.
Above will out off subject discussion if the banks are : BNP Paribus, Barclay Bank, etc
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15 Aug 2008 19:04
Post 3 of 4
Quoting from [Adam CFS]:
We have a customer in Nigeria who wants to purchase goods from us using Bill for Collection vis his bank. What guarantee do we have he will pay on the due date - is this a safe method of payment?
Avoid all bills for collection. Do not ship unless they give you an LC, which again must be confirmed by a bank in your city. Next, you should make sure that the confirming bank will handle the LC, and your documents would not be refused because of discrepancies. Go ahead only if you are sure about all these.
21 Aug 2008 19:55
Post 4 of 4
Quoting from [Adam CFS]:
We have a customer in Nigeria who wants to purchase goods from us using Bill for Collection vis his bank. What guarantee do we have he will pay on the due date - is this a safe method of payment?
Thanks for the advise - very helpful.
Regards
Adam
25 Aug 2008 05:33
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