Our Documentary Trade services make sure both importers and exporters meet contract terms, reducing risk and building trust between buyers and sellers.

Documentary Collections

BSP’s Documentary Collection provides a secure way to manage international trade payments. For importers, BSP receives trade documents from the seller’s bank. Importers can review the documents before committing to payment. Documents are released after payment. For exporters, BSP sends trade documents to the buyer’s bank. Documents are released after payment. Payment is credited to the exporter’s account.

How it works:

1. The exporter submits trade documents to BSP.
2. BSP sends them to the buyer’s bank with payment instructions.
3. The buyer inspects the documents and makes payment or accepts the bill.
4. BSP releases the documents and credits the exporter’s account upon payment.

Letters of Credit

A Letter of Credit is a guarantee that the seller will be paid once all agreed conditions are met. This service protects both buyers and sellers, ensuring smooth international trade.

How it works:

1. The importer applies for a Letter of Credit from BSP.
2. BSP sends the Letter of Credit to the exporter’s bank with payment terms.
3. The importer receives and accepts the goods.
4. BSP credits the exporter’s account once payment terms are met.