Collection

Depending on the relationship between buyer and seller, parties agree on a payment condition for the financial settlement of a goods or services transaction. In case of collection, banks process commercial and/or financial documents in accordance with instructions received (originating from a bank, or directly from a supplier). Import and export collections are processed at the Hakrinbank head office. Direct debit transactions are subject to the ICC Uniform Rules for Collections, unless otherwise agreed by the parties.

Our collection employees at the head office are happy to give you more advice about this form of payment.