
Payments & Collections
Definition
Documentary remittance is a collection procedure in which a bank receives a mandate from the seller to collect the amount of the debt against the remittance of documents.
Stakeholders
The principal or remitter: the exporter
The drawee: the importer
The remitting bank: the exporter's bank
The presenting bank: It is the corresponding bank of the exporter in the importer's country.
Scheme of realization
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