Sunday, July 3, 2011

Payment Methods: Bill For Collection (Tenor, D/A)

Click on the graphic to enlarge.
  1. Exporter and Importer sign the purchase contract
  2. Exporter ships the goods to the Importer
  3. Exporter forwards shipping documents to its Bank
  4. Exporter’s Bank forwards shipping documents to the Importer’s Bank
  5. Importer’s Bank release the shipping documents to the Importer
  6. Importer clears its goods using the shipping documents
  7. Importer pay its Bank for the goods already cleared
  8. Importer’s Bank transfers the funds to the Exporter’s Bank
  9. Exporter’s Bank pays the Exporter

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