Monday, April 15, 2013

Payment Methods: Bill For Collection (Sight D/P)

  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 pays its Bank for the goods in exchange for documents received
  7. Importer’s Bank transfers the funds to the Exporter’s Bank
  8. Exporter’s Bank pays the Exporter
  9. Importer clears its goods using the shipping documents

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