Payments against documents

Documentary collection is a payment operation, during which time the bank, acting on behalf of the seller (drawer), delivers to the buyer (drawee) commercial and/or financial documents against payment of these documents or an acceptance to pay. If the drawee refuses to pay them or accept the draft, the collecting bank will not deliver the documents to the drawee while the latter has not fulfilled the documentary collection conditions.

1. The seller effects shipment of the goods to the buyer.
2. The seller submits collection documents to its bank.
3. The seller's bank send the collection documents to the buyer's bank.
4. Upon payment by the buyer the buyer's bank hands the documents over to the buyer.
5. The buyer's bank makes payment to the seller's bank.

When you wish to pay by means of documentary collection, you must fill out a collection order (if you are the seller of the goods) or indicate to your partners (if you are the buyer) The Bank's information: Danske Bank A/S Lithuania Branch, Saltoniškių g. 2, LT-08500 Vilnius, S.W.I.F.T.- SMPOLT22, telex - 26 10 04 LDB LT.