Export collection provides you with more secure payment when you export goods.
How it works
- When you ship goods, you send documentation, such as invoice and transport documents etc to Barclays
- We forward the documents to the buyer's bank
- The buyer only gets access to the documents after making payment or accepting to pay on a certain date
- We monitor the collection instructions and remind the buyer if payment is delayed.
By using export collection, you get more reassurance of payment and can use the banking system to maintain control over your goods.
Please note, there is no recourse to the banks in the event of non-payment so the credit profile of your buyer still needs to be carefully assessed.