A documentary collection is a process, in which the seller instructs his bank to forward documents related to the export of goods to the buyer`s bank with a request to present these documents to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer. The buyer may obtain possession of goods and ....
Found on
http://en.wikipedia.org/wiki/Documentary_collection
A service provided by banks to sellers in obtaining payments. This service is usually transacted by the seller`s bank through the buyer`s bank, with the latter presenting the shipping documents to the buyer in exchange for payment or for signing a promissory note like instrument called a time draft.
Found on
http://www.duke.edu/~charvey/Classes/wpg/bfglosd.htm
Where you draw up a bill of exchange, which allows you to keep control of your goods and raise additional finance. An overseas bank, acting on your bank's behalf, will only release the documents necessary for your customer to take possession of goods once it formally accepts the terms of the bill. Documentary collections are typically used for expo...
Found on
http://www.encyclo.co.uk/local/20546
See D/P and D/A.
Found on
http://www.encyclo.co.uk/local/21615
No exact match found.
