There are three options regarding the manner in which shipping documents will be handled:
Option 1 – In an open account operation, where you send documents directly to your buyer, you can continue with the same procedure. Please ensure that you also send Drip Capital a scanned copy of all the documents.
Option 2 – If you follow the practice of sending your documents through your bank to the buyer, you will need to change the procedure. It will be necessary for you to send the original documents to Drip Capital. We will arrange to send the documents to your buyer.
Option 3 – For those exporters who follow the practice of sending documents through their bank to the buyer’s bank, it will be necessary to follow a revised procedure. You will need to complete a KYC procedure with Axis Bank, our banking partner. Upon satisfactory completion of this procedure, Axis Bank will forward the documents to the buyer’s bank on your behalf. As part of this procedure, you need NOT open an account with Axis Bank.