As an importer, you may have concerns about conducting business and negotiating payment terms with unfamiliar foreign suppliers.
You need to ensure the goods have been shipped and the supplier has met the terms of the contract - but the realities of international trade can make this process challenging. RBC can help your business manage these concerns.
Through Import Documentary Collections, RBC acts as an intermediary in the purchase process, providing you with an opportunity to review key documents before paying your supplier. RBC works with your business to reduce your risk and provide you with peace of mind.
Advantages for the Importer
Our specialized trade experts provide support to importers across the country and work with your local RBC Royal Bank account manager to ensure you receive the support you need to conduct your international transactions.
Our Import Documentary Collections service allows you to:
delay payment until the arrival of the goods
conserve your line of credit, as this product does not tie up your credit line
conserve your cash by eliminating the need for advance payments and deposits
ensure the imported goods comply with specifications outlined in the contract before you pay
strengthen new foreign trading relationships and build your business
