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.

Methods of execution

- Documents against payment
- Documents against acceptance.

Scheme of realization

schema