Barclays Business Banking : Key Stages - Documentary Collections
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Image : Diagram of the Documentary Collection Trade Process

Documentary Collection Process

1. Importer and Exporter negotiate the sale and discuss the contract
2. Exporter sends goods to Importer
3. Exporter sends Collection Schedule and Documents to their bank, the Remitting Bank
4. Collection Schedule and Documents sent from Remitting Bank to the Importers Bank, the Presenting/Collecting Bank
5. Documents are presented to Importer by Presenting/Collecting Bank for payment if a 'Sight Bill' or acceptance if a 'Term Bill'
6. Importer pays Bill if 'at sight', or accepts the Bill if 'term'
7. Money sent to Remitting bank if 'at sight', notice of acceptance sent if 'term'
8. Remitting Bank sends money to Exporter or holds acceptance Bill for presentation at maturity
 
 
 
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