Export Services

Outward Bill Collection (DA/DP)

Collect your payments easily and efficiently

Facilitate the flow of payment with our Outward Bill Collection. DBS acts as a professional agent to collect payments from the buyer on your behalf. Your transport documents are only released to the buyer once we’ve received either payment or an accepted Bill Of Exchange promising payment at a later date.

 

Documents against Acceptance (DA)

With DA, once the buyer has accepted the bills of exchange/draft, he has promised to pay at a later date. Your export documents will be released to him by his bank.

 

Documents against Payment (DP)

With DP, once the buyer has paid, his bank will release your export documents to him.

 

How does Outward Bill Collection work?

 

  1. The seller and buyer enter into a contract and agree that payment be made on the basis of a documentary collection
  2. The seller ships the goods and tenders the documents to DBS (Remitting bank) together with a corresponding collection order
  3. DBS sends the documents along with its collection instructions to the buyer’s bank (Collecting bank)
  4. The Collecting bank notifies the buyer of the arrival of documents for payment/acceptance
  5. The buyer pays the amount due or accepts the draft and in turn receives the documents
  6. The Collecting bank remits the amount to DBS
  7. DBS credits the amount to the seller’s account

 

Why choose DBS Outward Bill Collection (DA/DP)?

  • Grow your business with the Best Trade Finance Bank in India and the bank that was named the Rising Star for the Transaction Bank category, both awarded by The Asset in 2013
  • Enjoy the convenience of collection at any of our Trade Document Counters
  • Save time with our IDEAL™ (our online banking platform) notifications
  • Access our Outward Bill Collection Services without the need for a credit facility
  • Convert assets to cash immediately, shorten your cash collection cycle and improve your cash flow by asking DBS to discount the accepted bills
  • Submit forms any time before 6pm to ensure your documents are processed on the same day. We offer one of the latest cut off times in India for your convenience

 

Pricing

Examination of documents

15 bps, min of INR 2000

Exports bill on collection

6.25 bps flat as commission, min of INR 1,000

Exports bill on collection - under Letter of Credit

6.25 bps flat as commission, min of INR 1,500

FAQs

How long do you take to process the documents?

If we receive the documents by 6pm on a working day, we can process them on the same day. If we receive the documents after 6pm, we will process them within the next working day.

How do I check the status of my documents?

You can track the status of your documents through DHL, however you can also monitor payments through IDEAL™.

Do I need credit facility to apply for this service?

No, you do not need a credit facility to apply for this service.

 

How do I apply?

Simply visit us at any of our Branches and our Relationship Manager will be glad to assist you.