Which one's Remitting and 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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Gemini
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Which one's Remitting and Collecting

Post by Gemini » Thu Mar 29, 2012 8:55 am

Dear experts,
What do we call :
1. exporter Bank that send the documents to the importer bank on a collection basis ?
2. the Bank that send the payment for the exporter Bank?
quite confusing for me :((
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abrar
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Remitting bank

Post by abrar » Thu Apr 05, 2012 2:34 am

The exporter's bank is the remitting bank, and the imorter's bank is the collecting bank
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shruti
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Remitting Bank... Collecting Bank..

Post by shruti » Fri Apr 06, 2012 8:38 pm

The exporter's bank is the remitting bank, and the imorter's bank is the collecting bank.....

don't get confused exporter gives docs for collection to his banker.....this is remitting bank.. :)
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