DOCUMENTARY REMITTANCES are orders given by the exporter to his bank so that it sends BAI (importer's Bank) commercial documents (e.g. invoices, BL, certificate of origin) covering the possession of goods.

DOCUMENTARY REMITTANCES are orders given by the exporter to his bank so that it sends BAI (importer's Bank) commercial documents (e.g. invoices, BL, certificate of origin) covering the possession of goods.

BAI takes the role of Bank of the importer when he receives remittances or the exporter's Bank when he sends shipments.

Advantages:

• Provides a guarantee of payment on the basis of documentary evidence;
• Provides security to international transactions;
• For both the importer and the exporter, documentary remittances are a product more economical and alternative to documentary credits for transactions in which the parties involved have created a degree of mutual trust.

Channel availability:
Corporate account local clearance branch