Collecting bank: Difference between revisions
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''International trade''. | ''International trade''. | ||
In a transaction involving a documentary collection, the remitting bank’s correspondent, which is responsible for contacting the buyer (importer), collecting the amount due, and releasing documents as instructed. | In a transaction involving a documentary collection, a collecting bank is the remitting bank’s correspondent, which is responsible for contacting the buyer (importer), collecting the amount due, and releasing documents as instructed. | ||
== See also == | == See also == | ||
* [[Correspondent bank]] | |||
* [[Documentary collection]] | * [[Documentary collection]] | ||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:Trade_finance]] | |||
Latest revision as of 14:26, 24 April 2019
International trade.
In a transaction involving a documentary collection, a collecting bank is the remitting bank’s correspondent, which is responsible for contacting the buyer (importer), collecting the amount due, and releasing documents as instructed.
