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Collection

Presentation of financial and commercial documents to buyer only against their payment or acceptance for payment

About the product

Settlement transaction with crediting funds to the supplier’s account for delivered goods, works performed or services rendered in favor of Buyer

Who can use the collection of payment

• Small and medium-sized enterprises (legal entities and individual entrepreneurs) within the framework of contractual relations with counterparties
• You are the seller: you are given a guarantee that the documents will be transferred to the buyer only in exchange for payment for the goods
• You are the buyer: no prepayment is required, payment is made only on the basis of documents that guarantee the delivery of goods

Advantages

Security

More secure payment method compared to bank transfer

Uniform rules

Governance to international rules

For buyer

Protection from the risk of non-delivery - the buyer does not pay for the goods until he receives documents of title to the goods or documents evidencing shipment

For supplier

The documents under collection are not delivered to the buyer until he makes the payment or accepts the documents for payment (acceptance)

How does it work?

1

Conclusion of a contract

2

Shipment of goods

3

The supplier submits to its bank the collection instructions and documents

4

The bank delivers documents to the buyer against the payment for amount according to instructions given in collection

5

The bank transfers the amount of payment to the account of supplier

How to use collection of payment?

1

Open an account in PASHA Bank

2

Submit an application for collection to any Business Centers of the Bank or leave your e-application

3

Sign an agreement with the bank

4

Present the shipping documents to the bank

5

Receive the payment according to collection instructions

Apply or place a request

For a business with annual turnover up to 8 million

Are you a legal entity/private entrepreneur?*:

For additional information please contact PASHA Bank Business Centers, Contact Center at (994 12) 496 50 04 /*8123 or customer.care@pashabank.az email address.

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