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.


See also