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متابعة

What is the difference between the documentary credit and the documentary remittance?

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تم إضافة السؤال من قبل FATEH BOUCHENE , institut d'emission , banque centrale d'algerie
تاريخ النشر: 2017/06/19
مستخدم محذوف‎
من قبل مستخدم محذوف‎

Unlike a letter of credit, in documentary collection, the bank is not required to pay the seller or exporter if the buyer decides that it does not want to buy.

Anisa Abdulkader
من قبل Anisa Abdulkader , Accountant I , University of Texas

Documentary collection is a payment security method that is similar to a letter of credit, however, there is an important difference. Unlike a letter of credit, indocumentary collection, the bank is not required to pay the seller or exporter if the buyer decides that it does not want to buy.

Abdelfattah mohamed hassan Abdelhafez
من قبل Abdelfattah mohamed hassan Abdelhafez , مدير عام ببنك القاهرة بالمعاش حاليا , بنك القاهرة - المركز الرئيسي

 

*Letter of credit :- • An international banking instrument to finance contracts of a commercial nature between an internal importer and a beneficiary abroad * Crediting Parties: - Importer / student of credit / buyer - source / beneficiary of the accreditation / seller - The bank is open to credit - The external bank / correspondent reporting, promotion or circulation of ac

 

  

Documentary collection: The process of exchange of goods by the creation of trade papers that are due to be collected within the agreed deadlines. This process is based on the use of banks as intermediaries to exchange goods with payment documents

 

JULIA BEGSENG
من قبل JULIA BEGSENG , Bookkeeper , Saint Joseph Parish-Kayapa Multi-Purpose Credit Union

Documentary credit usually requires presentation of documents which must be complied with before payment can take place while documentary remittance is the document that you will present when you claim something sent to you.

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