Documents against payment

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Related to Documents against payment: Documents against acceptance, Documentary collections

Documents against payment

Shipping documents that are released to the buyer once the buyer has paid for the draft.

Documents Against Payment

A terms of payment arrangement in which an exporter entrusts the ownership documents of an asset to his/her bank, which then presents them to an importer only after the bank has received payment for the asset. Essentially, the bank holds hostage the ownership documents, which the importer needs to take possession of the merchandise, until the bank, and, by extension, the exporter, are paid. A risk for the exporter is the possibility that the importer will refuse to pay, and, while he/she will not be able to take possession of the merchandise, the exporter has little legal recourse. The terms of this agreement are set between the importer and exporter at the time of the sale.
References in classic literature ?
Blockhead-Hans became King, got a wife and a crown, and sat on the throne; and this we have still damp from the newspaper of the editor and the reporters--and they are not to be believed for a moment.
When Watson talked to Bell at public demonstrations, there were newspaper editors who referred sceptically to "the supposititious Watson.
Believe me,' returned the editor, 'that alternative was not open to me.
The other men were Blank, the Editor aforementioned, a certain journalist, and another--a quiet, shy man with a beard--whom I didn't know, and who, as far as my observation went, never opened his mouth all the evening.
In the present case the line bracketed is the very last which a full-grown male editor would be likely to interpolate.
Cooper is ridiculing the habit of newspaper editors of seeking popularity by serving in the militia and thus receiving the title of "Colonel"}
He was a German enthusiast, and editor of a newspaper, from whose leading articles he quoted frequently.
and it was not known even to the editor of the newspaper whither they were gone.
An editor might have corrected "Wickliffe's 'Epigoniad' " to "Wilkie's 'Epigoniad'," but is unlikely to have added "Tuckerman's 'Sicily' " to the list of books read by the narrator.
The criticisms of the editor do not particularly please us.
Of course she had not the responsibilities of an editor.
Rose Conroy, the editor of the better local weekly, a year or so younger than himself, pleasant, capable.

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