A term indicating the draft drawn by the seller on the buyer relating to a Documentary collection. If the draft contains the notation Documents against acceptance, the documents giving title to the goods are handed over upon acceptance of the draft by the buyer. If it is marked Documents against Payment, they are handed over only after payment. Français: Traite documentaire Español: Giro documentario
a Draft, which is dependent upon attached or referenced documents, which establish the backing of the Draft
a Draft, which is dependent upon attached or referenced info
Under Article 4 Bank Deposits and Collections, this means any negotiable or nonnegotiable draft with accompanying documents, securities, or other papers to be delivered against honor of the draft.
A draft to which documents are attached.
A bill of exchange accompanied by shipping documents that confer title to goods. This type of bill of exchange is less risky as the shipping documents are sent to the remitting bank rather than directly to the buyer/importer. The latter needs to pay or accept the draft for future payment before being able to collect the documents and therefore the goods. See clean draft.
A seller's draft, accompanied by shipping documents, which are released to the buyer against payment or acceptance of the draft. Compare "documentary Collection."
