An arrangement by which a bank forwards shipping documents provided by a seller to an overseas bank for collection by the buyer. The documents will be released against Acceptance of a Bill of Exchange which will fall due for payment at a latter date.
A notation on a draft issue in an export transaction stating that the documents attached to the draft and giving title to the shipped goods should be handed to the buyer ( drawee) only upon his acceptance of the draft. Français: Documents contre acceptation Español: Documentos contra aceptación
Term for documentary draft collection instructions requesting the presenting bank to deliver documents only upon acceptance of the draft by the drawee/importer. See also " acceptance."
Documents that are the shipper's instructions to his bank attached to a draft for collection. They are deliverable to the drawee only against the drawee's acceptance of the draft.
A transaction where the shipper sends shipping documents attached to a draft (order for payment) for the amount due to a bank or agent at the destination to present to the consignee. If the consignee accepts the draft, they are then given the shipping documents to allow them to obtain possession of the goods before they pay for them.
Instructions given by a shipper to a bank indicating that documents transferring title to goods should be delivered to the buyer (or drawee) only upon the buyer's acceptance of the attached draft.
Instructions given by an exporter to their bank that the documents attached to a time draft for collection are only deliverable to the drawee against the drawee's acceptance of the draft.
Collection instructions stating that the documents may be handed over to the buyer against its acceptance of a draft
The instruction given where shipping documents are released against acceptance of the bill of exchange by the buyer, agreeing to pay on/at a future date.
Instruction for commercial documents to be released to the drawee on acceptance of the Bill of Exchange - see Collections ?Introduction.
As a procedure to collect payment on an exported shipment. instructions are given that documents necessary to obtain the merchandise from customs and the carrier are to be released to a buyer only against the buyer's acceptance of a time draft drawn upon him.
Documents are accompanied by a Bill of Exchange drawn for the period of credit arranged. The documents are handed to the buyer against his acceptance of the Bill of Exchange, which is retained by the exporters Bank until maturity, when it is presented.