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Documentary Collection

Food and Agricultural Produce
From Austria
To Hungary
91 views / 0 experts
Sep 08, 2020
What is Documentary Collection?

1 answer

Munmun S.
Not rated
Sep 08, 2020

Documentary Collection (including Bills of Exchange) can be another option to be considered when negotiating a contract of sale. Collections can be either at sight or term, also depending on contract of sale terms. If the collection is at sight, that is Documents Against Payment (D/P Sight), the Importer/Buyer must pay the amount of the collection, before they receive the documents that are needed to clear the goods. If the collection is at a previously negotiated agreed term, that is Documents Against Acceptance (D/A xxx days/xxx days from shipment date), the Importer/Buyer is usually required to accept a Bill of Exchange before documents are released.

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