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  • Application For Documentary Collection Negotiation - Maybank

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APPLICATION FOR DOCUMENTARY COLLECTION / NEGOTIATION Date (dd/mm/yyyy) To : Click to select branch Type of Application Documentary Collection Negotiation 1. Drawer/Beneficiary 's Name and Address.

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Delivery documents shall include a business invoice, a certificate of origin, an insurance certificate, and a packing list. The main document in documentary collections is a bill of trade or a bill of the draft, which is a formal application for payment from the exporter to the importer.

In a Documentary Collections transaction, the exporter's and the importer's banks facilitate the export sale by exchanging shipping documents for payment. However, the banks do not verify that the documents are accurate and do not guarantee payment as they do with Letters of Credit.

The exporter/seller (i.e., principal) ships the goods to the importer/buyer (i.e., drawee) and obtains a negotiable transport document (i.e., bill of lading) from the shipping firm/agent.

If the buyer and seller agree to a delay in payment, the transaction becomes a Time Draft, Documents Against Acceptance, or simply D/A, as illustrated in this lesson. In a documentary collection method of payment, both the buyer and seller bear some risk, and, likewise, both have a measure of security.

These documents are necessary for importers to clear the merchandise via customs and take delivery. Documentary collection is of two types — documents against acceptance and documents against payment.

A letter of credit is a legally binding document that guarantees payment to a seller. A documentary collection allows a buyer to refuse a shipment if it does not match the standards of excellence. The importer's bank issues the letter of credit, while the exporter's bank issues a documentary collection.

A documentary collection (D/C) is a transaction whereby the exporter entrusts the collection of payment to the exporter's bank (remitting bank), which sends documents to the importer's bank (collecting bank), along with instructions for payment.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232