Documentary Collections
A Documentary Collection is the collection of a sum of money due from a buyer to a bank against delivery of shipping documents.
The bank, acting as an intermediary between exporter and importer, presents documents on behalf of the exporter – which are proof of the actual delivery of a product or service rendered, and in exchange collect payment or receives acceptance of a bill of exchange.
The bank, acting as an intermediary between exporter and importer, presents documents on behalf of the exporter – which are proof of the actual delivery of a product or service rendered, and in exchange collect payment or receives acceptance of a bill of exchange.