![]() After the presentation of the documents, the exporter’s bank collects funds from the importer’s bank usually after the goods have arrived at the importer’s location. In other words, it is a type of trade finance instruments where an exporter is paid for its shipped goods by an importer after the banks of both the parties exchange the required documents. A documentary collection (DC) is a type of transaction where the exporter approaches his bank (known as remitting bank) for the collection of payment, which sends documents to the importer’s or buyer’s bank (collecting bank) along with the instructions to further send those documents to the buyer for releasing the payment.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |