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Documentary Remittance

Using a documentary remittance, the seller authorises the bank to transfer forwarding and transportation documents to the buyer after the contractually agreed payment has been made.

Similar to a commercial letter of credit, but with a more streamlined procedure, involving lower costs for both the buyer and the seller.

Documentary remittance offers the following benefits:

  • For the buyer
    Payment is made only upon delivery of goods by the seller and transfer of the forwarding documents to the bank
  • For the seller
    Forwarding documents are made available to the buyer only after the payment has been effected
Updated on 17.11.2017 15:00:00
Created by Boldendeavours
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