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Documentary Collections

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Documentary collections
Trade transactions handled on a draft basis.
Documentary Collections
International transactions in which banks act on behalf of the importer and exporter to collect payment for a good. The exporter presents the appropriate documents to a bank in his/her country, which forwards them to a bank in the importer's country. This bank presents the documents to the importer and accepts payment, which it then forwards back to the first bank. The banks have no responsibility in a documentary collection except to fulfill instructions of the importer and exporter; that is, they make no guarantees of payment. See also: Documents against payment, Documents against acceptance.
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That's why international bankers use documentary collections, explains Gene Cavanaugh, vice president of business banking at 1st Source Bank in South Bend.
Global banking: what an international banker can offer Indiana ... by Hromadka, Erik / Indiana Business Magazine
In South Africa most established importers use documentary collections varying from 60 to 120 days alter acceptance, but they also use confirmed irrevocable letters of credit.
International payment risk: what are the best ways to ensure that an ... by Boczko, Anthony / Financial Management (UK)
Johnson bases her arguments upon a variety of solid primary-source documentary collections as well as a thoroughly perused secondary literature.
The Social Transformation of Eighteenth-Century Cuba by Bergad, Laird W. / Journal of Social History
 
 
 
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