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Presenting vs Collecting

Posted: Fri May 26, 2017 1:30 pm
by dyco
Hi Expert

What is the main task for collecting and presenting bank under doc collection?are both have same meaning?

Many thanks
DS

Re: Presenting vs Collecting

Posted: Tue Sep 12, 2017 12:21 pm
by saikumar1208
Seller will present the original shiiping documents ro his bank which is a presenting bank or a remitting bank. The remitting bank will inturn the forward the dcuments to the buyers bank which is called as a collecting bank.
Remitting bank will authorize the collecting bank to release the documents against payment or acceptance

Re: Presenting vs Collecting

Posted: Sun Oct 01, 2017 8:34 am
by L59099
just clarify simply that
the presenting bank acts for the favour of the seller (called the drawer)
the collecting bank acts for the favour of the buyer (called the drawee)