BILLS FOR COLLECTION

National Bank of Iraq offers bills for collection to its clients who do not need the full protection of letters of credit (LC) but rather those who are looking for additional protection while carrying out their commercial activities according to the open account's terms.
Through bills for collection, the bank can deal with financial and/or commercial documents in accordance with the exporter's instructions to collect the goods' payment or deliver documents related to the delivery of the goods. The bill value represents the commercial value of the deal in addition to transportation expenses and any other measures agreed upon.