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Incasso

Incasso is a commitment taken by a bank (remitting bank) to act in accordance with instructions given by customer (issuer) or with financial documents and related commercial documents in order to obtain, including through another bank (receiving bank), the payment or the acceptance of the issued financial documents or to issue documents against payment or against the acceptance of financial documents.  

There are two types of Incasso-related documents:

    • Financial documents: bills of exchange, promissory notes, cheques or other similar instruments used to obtain financial means;
    • Commercial documents: invoices, waybills, property documents or other similar documents but financial documents.

The operation resides in transmitting the commercial and financial documents from the payment beneficiary to the payer against payment, acceptance or other conditions.

Advantages:

  • Incasso gives partners a certain degree of certainty that contractual obligations will be met. 
  • After seeing the document before paying, the buyer is sure that the payment will be made only after the exporter fulfilled its obligations and exported the commodity.
  • The seller is certain that the documents will not be provided to the importer to get the commodity until their counter value is paid.