D/A with B/L to order of Collecting Bank

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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akomolpa
Posts: 54
Joined: Thu Mar 12, 2009 5:04 pm

D/A with B/L to order of Collecting Bank

Post by akomolpa » Fri Sep 18, 2009 10:46 am

Dear all,

If Collecting Bank receive the 30 days D/A bills with B/L to order of them drawn on customer whom they do not familiar with, what should they do?
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picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

art 10 URC 522

Post by picant » Fri Sep 18, 2009 12:26 pm

Hi Pal,

all is regulated by art 10 URC 522.

other comments appreciated

Ciao
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