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Which one's Remitting and Collecting

Posted: Thu Mar 29, 2012 8:55 am
by Gemini
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 :((

Remitting bank

Posted: Thu Apr 05, 2012 2:34 am
by abrar
The exporter's bank is the remitting bank, and the imorter's bank is the collecting bank

Remitting Bank... Collecting Bank..

Posted: Fri Apr 06, 2012 8:38 pm
by shruti
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.. :)