When the level of security in a Letter of Credit is not needed, we can offer an Import Documentary Collection. National Penn Bank acts as a collecting agent (remitting bank) to assist the exporter in obtaining payment or acceptance of its draft before the release of documents to you.
If your supplier considers you sufficiently creditworthy, an Import Documentary Collection is a cost-effective means to make payments to your international suppliers. It eliminates potential problems and:
- allows you to purchase merchandise without tying up working capital.
- provides a low cost payment option.