Definitions for "Cash Against Documents"
CAD. A transaction where the purchaser takes ownership of goods the moment...
An arrangement whereby the buyer pays for goods as soon as the buyer receives the seller's documents. There is normally an intermediary involved, ie a bank or an agent acting on behalf of the seller, to ensure that the transaction takes place smoothly.
Terms of payment stipulating that the buyer of the goods pays cash for the goods against the transfer of the documents, which entitles him to take possession of the goods.