Bills

COLLECTION, NEGOTIATION (PURCHASE) OF CHEQUES, DRAFTS & BILLS

Collections and Negotiation (Purchase) of cheques and bills are important services rendered by the Bank to its customers. Collection means the acceptance of cheques, bills and other instruments from our customers, which are payable at other Centres/Banks, sending these to our correspondent bank/drawee banks for payment and crediting their proceeds to the accounts of the lodgers thereof after their payment/payment advice is received from the correspondent/drawee banks. Negotiation (purchase) means the purchase of cheques/bills drawn on other centres/banks, from parties of good standing, who are given immediate credit/cash for the amounts of the instruments even before these are paid at the concerned offices.

INSTRUMENT

PAYABLE WITHIN BHUTAN

PAYABLE OUTSIDE BHUTAN

Collection

Negotiation

Collection

Negotiation

Cheques/Drafts
Bills

S.C.
S.C.

D.D.
D.D.

C.B.C.
C.B.C.

O.C.
I.B

Purchase of Cheques/Drafts/Bills

(A) Demand Drafts purchased of Cheques/Drafts (within Bhutan) :
Service Charges:

Both Public & Government
Both public & government Max Nu. 100.

(B) Outward Cheques purchased of Cheques/Drafts (outside Bhutan):
Service Charges:

Both Public & Government
Both Public and Government
0.5% of value (Max Nu. 20000)

NOTE:
* Postage/out of pocket expense @ Nu.30/- and Nu.45/- per Instrument on DDs and OCs respectively will be charged in addition to above charges.
* Telephone Charge @ Nu.40/- per Instrument will be charged towards Lien Noting Charge.

Bills of Exchange (IB)

Negotiation (Purchase) of Foreign Cheques/Drafts/T.Cs:

Service Charges
Amount x 1% plus Actual Postage

For further information, please contact our nearest branch

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ForĀ 18th to 20.10.2014
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Post Box No. 102, Babesa, Thimphu, Bhutan PABX: (+975-5): 02-334333 Fax: (+975-5): 02-334296, 337271
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