Copies of documents for bank's records

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;
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Joined: Mon Aug 19, 2019 2:52 pm
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Copies of documents for bank's records

Post by Thompson » Mon Aug 19, 2019 3:08 pm

Dear colleagues,

Following latest AML / compliance practices I just wanted to ask you which copies of the documents presented under documentary collections (both export and import) you keep / archive for your bank's own records: bill of exchange, Invoice, transport documents - I guess for sure? What about other documents: some of them may show other manufacturer like certificate of origin or other third parties involved in the transaction, also insurance document, etc.?

Thank you in advance for sharing your experience.

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Re: Copies of documents for bank's records

Post by afoonline » Wed Dec 11, 2019 11:23 pm

Regulatory Certificate relating to the items of import eg. phytosanitory certificate or material safety data sheet

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