Collecting bank: Difference between revisions
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imported>Doug Williamson m (Added space before see also) |
imported>Doug Williamson (Expand definition.) |
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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. | ||
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* [[Documentary collection]] | * [[Documentary collection]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
[[Category:Risk_frameworks]] | [[Category:Risk_frameworks]] | ||
[[Category:Trade_finance]] | |||
Revision as of 18:52, 19 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.
