Document Collections -- Documents Against Payment
Document Collections -- Documents Against Payment : Stipulate that the exporter ships goods to the importer without a letter of credit or another form of guaranteed payment. The importer must sign a sight draft before receiving the necessary documents to pick up the goods. Documents Against Acceptance (D/A) are instructions given by a shipper to a bank stating that the documents transferring title to goods should be delivered to the buyer only upon the signing of a time draft. In this manner an exporter extends credit to the importer and agrees to accept payment at a readily determined future date. See: Draft Bill of Exchange
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