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
Post Reply
dyco
Posts: 5
Joined: Fri May 26, 2017 12:20 pm
First Name: Diko
Last Name: S
Organization: Guarantee section
Filter: Two Plus Two =: 4
Location: Indonesia

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

saikumar1208
Posts: 27
Joined: Wed Sep 06, 2017 1:57 pm
First Name: Sai kumar
Last Name: Chintakuntla
Organization: Na
Filter: Two Plus Two =: 4
Location: Hyderabad

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

L59099
Posts: 16
Joined: Mon Jul 24, 2017 10:53 pm
First Name: Len
Last Name: Nguyen
Organization: shb
Filter: Two Plus Two =: 4
Location: Vietnam

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)

Post Reply