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Collection, Documentary
Drafts and shipping documents created by a seller, drawn on and payable to a buyer which are transmitted to the buyer's bank (the collecting bank) from the seller's bank (the remitting bank) with instruction to the collecting bank to deliver documents to the buyer only against payment or acceptance of the draft (as appropriate). Neither the remitting nor collecting bank guarantees payment in a documentary collection.
See related terms:
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Collection, Documentary 
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