Export remittance - Caixa Turís

If there is a certain amount of trust with your customer, and you wish to access a cheaper method of payment than a Documentary Credit , you can send the documents for collection management, in other words, you can arrange collection of payment by means of an Export Remittance.

A remittance is a method of payment involving sending documents for collection management. If financial documents are presented, it is known as a ‘simple remittance’, and if the remittance is made up of commercial documents, it is known as a ‘documentary remittance’.

You can manage the collection of simple remittances payable in France and the US as follows:

France: collection can be managed through an electronic remittance using the LCR (Lettre de Change Relevé) system offered by our correspondent bank Société Générale. This type of remittance only allows for the collection of bills or promissory notes in euros.
USA: when the method of payment used is a cheque in US dollars, you can manage collection using the Final Credit Service offered by our correspondent bank Wells Fargo

Remember:

Any remittance should comply with the Uniform Rules for Remittances (publication 522) published by the International Chamber of Commerce. These are internationally accepted rules that you should become familiar with.
A remittance does not guarantee payment: if payment is deferred, the importer may collect the documentation and, on the payment due date, choose not to make the payment, although if payment is on demand, unless the funds are sent, the importer will not have access to the documentation, which will be returned as unpaid.

User guide

If you wish to manage the collection of documents relating to exports, you must present the originals at your branch of Caixa Turís, along with a letter of instructions indicating:

Name and address of your customer
Name and Swift code of your customer’s bank
Amount, currency, and expiry/due date for payment
Instructions regarding the delivery of documents upon payment or on acceptance
Instructions for refusal
In the event that you want to manage the collection of a bill or promissory note payable in France, whether you want to manage the collection via electronic remittance.
In the event that you want to manage the collection of a cheque in US dollars payable in the United States, whether you wish to manage collection using the Final Credit Service.

This documentation will be sent as quickly as possible to ensure collection on the agreed date.

Once payment has been collected, it will be credited to your account.

If you need to or the collection of an export, you must have a Foreign Trade Facility and fill out a form that will be provided by your branch of Caixa Turís.

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