1.1 Description

Documentary collection is one of the common payment techniques used in international trade to facilitate import/export operations.A documentary collection is a trade transaction in which the seller (or exporter) instructs his bank to forward documents related to the export of goods to a buyer’s bank with a request to present these documents to the buyer (or importer) for payment, indicating when and on what conditions these documents can be released to the buyer. In the process, the exporter hands over the task of collecting payment for goods supplied to his bank. The exporter or seller is the originator of the documentary collection. This user story describes how the Remitting Bank handles the documentary collection-booking request from the exporter.