Export documentary collection

Complete documentary collection process monitored

As part of our documentary collection process, we forward your export documents to a bank in the buyer's country.  The documents are only released to the buyer when payment terms and conditions are met. Our process offers:

• Availability in most major currencies
• A more cost effective solution than a documentary credit, due to its simpler process
• We monitor the collection process for you from the dispatch of your documents through to receipt of the payment
• You stipulate the terms of the collection, so that it aligns with your underlying commercial contract
• You receive payment when we receive proceeds from your buyer's bank
• You have an alternative form of payment to an export documentary credit
• It can be issued on a 'sight' or 'term' basis: sight means that drafts are drawn for immediate payment, term means that drafts are drawn on a term payment basis - e.g. 30 days after sight, 90 days from bill of lading.

Know the risks

• Payment default risk is greater than that of a documentary credit as the buyer can refuse payment at any time
• Disputes over terms and conditions after you ship your goods can result in delayed payment or non-payment
• Unplanned expenses may arise if the buyer delays or defaults payment
• When documents are released against acceptance of a term bill, you will lose control of the goods and be solely reliant on the buyer's credit standing for payment on due date.

Initiate our Export Documentary Collection process by:

• Calling our International Trade Solutions team on 1300 139 152
• Contacting your Relationship Manager.

Online application through WinTrade

• If you're a Westpac customer with WinTrade access, you can transact online
• If you require WinTrade access, call our International Trade Solutions team on 1300 139 152.