Користувач:Olha Michailiak/Чернетка

                                      Documentary collection

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1. The Seller and the Buyer make a contract in which they stipulate documentary collection as a method of payment

2. The Seller dispatches the goods to the Buyer. The documents of title are created.

3. The Seller presents the documents to its Bank.

4. The Seller’s bank transfers the documents to the Buyer’s Bank.

5. The Buyer obtains the documents from the Buyer’s bank against payment, or undertaking to make payment, e.g. acceptance of a Bill of Exchange drawn on the Buyer

6. The Buyer’s Bank transfers the payment or the acceptance to the Seller’s bank.

7. The Seller’s bank pays the money into the Seller’s account.