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Inward Documentary Collection (IDC)
Inward Documentary Collection is bills received from our branches or other banks in Malaysia/ outside Malaysia with instruction to:
a)
Obtain payment/ acceptance from buyer, or
b)
Deliver documents to buyer against payment (D/P), or
c)
Deliver documents against acceptance and/ or to obtain payment on maturity date
 
Salient features of IDC
Generally, IDC will be accompanied by either Sight Bills of Exchange for Documents Against Payment (D/P) or Usance Bills of Exchange for Documents against Acceptance (D/A) drawn on the buyer
In case of D/P buyer will have to effect the payment before documents can be released to him
For D/A, documents can be released upon buyer's accepting and acknowledging on the Bills Of Exchange. By doing that the buyer acknowledged his legal obligation to pay the face value of the Bills of Exchange upon maturity
Financing is also available for eligible customers
Further enquiries can be made at any of our Trade Finance Centres or Business Centre nationwide
 
 
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