Payments & collections

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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.

 

schema

Scheme of realization

 

schema