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Documentary collections Definition from Sports Dictionaries & Glossaries
Method of making payment for goods. A collecting bank, acting as intermediary, will exchange original documents representing ownership of the goods for payment (sight draft) or a promise to pay (time draft).
Documentary collections Definition from Encyclopedia Dictionaries & Glossaries
A documentary collection is a process, in which the seller instructs his bank to forward documents related to the export of goods to the buyer's bank with a request to present these documents to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer.
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