Import Collections are documentary collections received from another bank (normally from abroad) and are usually intended for the customer of the bank (the drawee), which is the payee of the collection.

Before the documents are received, it is quite possible that goods have already been released or that a shipping guarantee has been issued. In either case, a reference number for an import collection will already exist. When processing the import collection, the user should check for the existence of such a contract.

Document collection is the collection of trade documents like invoices or transport documents which can also be accompanied by financial documents. Depending on the collection conditions the documents are presented to the drawee on payment, acceptance, usance payment or mixed payment.

Clean collections are collections of financial documents as opposed to trade documents. These documents represent a promise to pay a certain amount on a specified due date. They are typically issued in relation to trade, but do not represent goods or the trade itself.
Examples of such financial documents are: drafts, documents of exchange, promissory notes, checks, etc.

In a clean collection financial documents that are reaching their due date are presented to the drawee via a collecting bank.

Upon request, ordering customers can be paid under reserve, i.e. at the time of presentation to us and thus before the funds are received from the collecting bank. If the collection is rejected, the funds will be debited back from the ordering customer account.

The collection condition “Clean Collection” is designed to process individual financial documents. It does not support the SWIFT Message MT405, as it can only be used by banks that subscribe to the Message User Group (MUG) for this message.