It is the document that the importer's bank is entrusted by the exporter's bank to present to the payer (that is, the importer) for payment.A method of settlement in which payment or acceptance is required. That is to say, after receiving the commercial documents sent by the overseas collecting bank, our bank will present them to the importer.A settlement transaction requiring payment or acceptance of a redemption order.The parties concerned in the import collection business include the principal, the remitting bank, the collecting bank and the drawee.According to the release method, it can be divided into D/P and D/A.

1. There is no need for bank credit, and the payment depends on the customer's commercial credit.

2. Low cost, cost saving.

3. Redemption upon arrival to reduce trade risks;

1. After our bank receives the full set of commercial documents sent by the collecting bank and verifies that they are consistent with the letter of mailing,Notify the customer (importer) of payment or acceptance as instructed by the remitting bank.

2. The customer submits the Notice of Payment/Acceptance of Import Collection Documents with official seal to our bank, indicating payment or acceptance;In the case of payment,It is also required to submit the verification and cancellation form of import payment in foreign exchange for trade (declaration form), the verification copy of the list of import payment units and the application form for purchasing foreign exchange (if necessary).

3. After handling the procedures of sale, payment or acceptance, our bank will release the documents to the customer for delivery.

4. If the customer refuses to pay or accept,The Notice of Payment/Acceptance of Import Collection Documents affixed with the official seal shall be submitted to indicate non-payment or acceptance.Our bank will take care of the documents and contact the remitting bank.