After the exporter has shipped the goods to the buyer, he deposits with his bank the export documents accompanied by an application for documentary collection.

In the application form for documentary collection the exporter:

1. Completes the buyer's data (Drawee under the documentary collection)

2. Completes the data of the buyer’s bank (Collecting bank)

3. Describes the goods

4. Describes the attached documents

5. Gives written instructions on the conditions under which the documents are to be delivered to the payer

6. UBB processes and sends the documents to the drawee’s bank (Collecting bank)

7. Depending on the instructions, the collecting bank transfers the documents to the Drawee against payment of their value or against acceptance (a written commitment for payment on maturity) or free of payment.

Important: In the case of export documentary collection the bank processes the provided documents in compliance with the instructions of the exporter regarding the manner of their delivery to the buyer but has not commitment for payment to the exporter. The payment depends only on the buyer.