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."
Keywords:  collection, see
see Documentary Collection