Documentary collection is a payment instrument used in import-export businesses. Compared to the documentary credit, documentary collection includes prior delivery or rendering of services by the vendor before execution of payment.
Documentary collection operations provided by OTP Bank
- sending documents for collection (Nostro)
- accepting documents for payment (Loro)
- obtaining acceptance bills
- cheque and bills of exchange collection
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Documentary letters of credit
Documentary credit represents one of the most significant instruments of international payment in foreign trade business that enables more secure exchange of goods and protects interests of vendor and buyer.Find out more
OTP bank issues and advise guarantees as security instruments. At the request of guarantee user the Bank undertakes to make payments up to the amount specified in the warranty, in the case of non-payment or default of contractual obligations by the instructing party under the guarantee.Find out more
Our documentary operations and guarantees experts have significant experience in international trade and are always ready to offer you a piece of adviceFind out more