Annual turnover up to 2 mln BGN
Annual turnover above 2 mln BGN
Agri procucers - up to 2 mln BGN
Freelancers
Domestic line
International line
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UBB processes your trade and financial documents for import of goods, received from the bank of your business partner-exporter along with the respective instructions for delivery and payment.
UBB processes and delivers to the importer the documents received from the bank of the exporter against payment (documents against payment) or against acceptance of a bill of exchange (documents against acceptance) depending on the instructions of the exporter.
Following the collection instructions of the remitting bank we advise you of the received documents and inform you under what terms and conditions the originals will be delivered to you.
After payment of the value under the documents, against acceptance (written commitment) for payment on the maturity date or without payment, we will deliver the originals to you.
Important: If you have received documentary collection you should not pay the amount due directly to the seller through a free (credit) transfer. The payment through a free (credit) transfer does not release you automatically from the commitment for payment under the received collection and UBB cannot give you the documents without receiving an additional authorization from the bank of the exporter.
1. When does the buyer obtain the documents received under the documentary collection?
The Collecting bank delivers the received documents to the importer/buyer against payment or acceptance of a bill of exchange in compliance with the instructions received from the exporter through his servicing bank (Remitting bank).
2. Is it possible to make partial payments under documentary collection?
Yes, only if there are explicit instruction from the exporter through his servicing bank (Remitting bank).
3. Is it possible to cancel a documentary collection?
Yes, with an instruction from the exporter through his servicing bank (sending bank).
4. How is a documentary collection paid?
Payment under documentary collection is made only through a payment order under the collection and not through a free (credit) transfer. It is important for you to know that the payment through a free (credit) transfer does not release you automatically from the commitment for payment under the received collection and UBB cannot give you the documents without receiving an additional authorization from the bank of the exporter.
5. Does UBB have any payment engagements under import documentary collection?
No. UBB, as a Collecting bank, has only the obligation to deliver original documents to the buyer strictly following instructions received from the seller through its servicing bank.
If you would like a consultancy with our expert regarding information on financial products or services, please follow the link below.
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Branches and ATMs
0700 1 17 17
