Presenting vs Collecting

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin; besttradesolution.com
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dyco
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Presenting vs Collecting

Post by dyco » Fri May 26, 2017 1:30 pm

Hi Expert

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

Many thanks
DS
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saikumar1208
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Re: Presenting vs Collecting

Post by saikumar1208 » Tue Sep 12, 2017 12:21 pm

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
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L59099
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Re: Presenting vs Collecting

Post by L59099 » Sun Oct 01, 2017 8:34 am

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)
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