Documents Under DA Terms Drawee Wants To Pay Sight

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
TradeLaporte
Posts: 165
Joined: Sat Nov 24, 2012 12:40 pm
First Name: ART
Last Name: TRATADOLIBRE
Organization: Trade Co
Filter: Two Plus Two =: 4
Location: United States

Documents Under DA Terms Drawee Wants To Pay Sight

Post by TradeLaporte » Thu Mar 27, 2014 11:59 am

Dear members

If drawee needs docs under DA and wants to pay instead for documents do you need remitting's bank approval? Comments appreciated it
Top
mandeep
Posts: 43
Joined: Tue Apr 30, 2013 2:07 pm
First Name: mandeep
Last Name: maharjan
Organization: laxmi bank ltd
Filter: Two Plus Two =: 4
Location: nepal

Documents under DA terms drawee wants to pay sight

Post by mandeep » Tue Apr 01, 2014 3:59 pm

hello,

there is no need of approval. if drawee wants to pay on sight, there is no such risk.

regards
mandeep
Top
LLawrence
Posts: 22
Joined: Sun Apr 14, 2019 2:06 am
First Name: Linda
Last Name: Lawrence
Organization: NA
Filter: Two Plus Two =: 4
Location: UK

Re: Documents Under DA Terms Drawee Wants To Pay Sight

Post by LLawrence » Fri Apr 19, 2019 2:43 am

Drawee can make the payment anytime he wants. He could also potentially not to make the payment while the product is 'documentary collection'. There is no risk neither an issue to make an early payment.
Top
Post Reply

Return to “Documentary Collection Forum”