What is a documentary collection?

Documentary Film Collection is a process by which importers and exporters make payments easier. If you want to start the process, exporters go to the bank in their country and present collection documents that represent transport and other balance costs. After the documents reach the bank where the importers live, the importers pay their bank and refund the money to the first bank that pays to exporters. During this process, banks are responsible only for sending documents and collecting money. If importers fail or refuse to pay in the collection of documentary documents, banks may sue on behalf of exporters if they are interviewed even if banks can also reject this application.

Money is usually not translated between importers and exporters until the items are sent or arrived. One way to make this payment when time comes through a collection of documentary films. Exporters visit the local bank and submit a certificate of origin, conosaments and other documents engaged in transport and export costs. This bAnka then hand over the documents to the importers of the local bank. The bank often also has title documents that importers must legally own imported items. When the importer pays transport costs, the bank will hand over the money to the bank of exporters.

with some credit documents used between importers and exporters, the participating banks guarantee that the parties will pay. When a documentary collection is used, banks will not do such a warranty. This lack of warranty is less likely to lose money, so this document is usually cheaper than other credit documents, leading to normal use between trusted parties. At the same time, it may be the use of this form of payment between the parties that are for each other, because the lack of warranty could lead the exporter to the loss of money.

While banks leave any guarantee when receiving payment, the importer may sue for refusing to pay the documentary collection. Importers can rejectt to pay because they do not want to use their money or because they do not want to receive imported items; Regardless of the cause, banks can sue them for non -payment. This is done only by the name of exporters who must initiate this process. Banks will not sue if the exporters do not ask them, and even then some banks can refuse this application.