Import Bills of Collection (IC)


A process of obtaining payment from the buyer by the bank acting in accordance with instruction received from seller or seller’s bank. Bank act as intermediary and channel the documents but do not give any payment undertaking. To act as agent for the handling of documentary collection for customers who are buyer / importer.

  • Documents against Payment (D/P) – Sight (Immediate payment)
  • Documents against Acceptance (D/A) – Usance (Credit Term given by seller/ exporter)
  • Denominated in Ringgit Malaysia and Foreign Currency