Collections

Collection (inkaso) is the handling of documents by the Bank in accordance with instructions received from a customer/correspondent for matters such as:

• Obtaining payment or acceptances, or.
• Submitting documents with regards to payment and/or acceptances, or.
• Submitting documents with regards to other payment requirements.

1. Clean Collection

Clean collection is the collection of financial documents other than trade/commercial documents.

2. Documentary Collection

Documentary Collection is the collection of trade/commercial documents, with or without financial documents, including :

• The collection of D/P (Documents against Payment), a bill over a document to obtain payment upon presentation.
• Collection D/A (Documents against Acceptance) is a collection on a document to obtain acceptance during submission.

Inward collection is the collection on clearance documents that are received from a Remitting Bank overseas to be further finalized with drawees within the country to obtain a payment or acceptance.

Outward Collection is the collection on clearance documents to be sent to a Collecting Bank overseas to obtain a payment or acceptance.

Terms and Conditions :

• To fill in and sign an application form.
• Document/letter is presented personally by owner.
• To endorse.
• Not yet expired.
• Intact/undamaged/without defect.
• Has never been billed.
• Currency is officially listed in Bank Indonesia.