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Chapter Six
Documentary Collections
跟单托收
Documentary collection is necessary when the draft is drawn on the importer. The exporter must give instructions to the collecting bank on what to do with the draft and shipping documents in documentary collection instructions, also known as a collection letter or letter of instructions. Such a letter provides the conditions under which the collecting bank can release documents to the importer and the actions to be undertaken.
The format of the instruction forms and drafts may vary from bank to bank, but they basically have the same information. The forms and drafts are available at banks.
6.1 Uniform Rules for Collections
托收统一规则
The Uniform Rules for Collections, ICC Publication No. 322, which describes the conditions governing collections (including those for the presentation, payment and acceptance terms), is issued by the International Chamber of Commerce (ICC) in Paris, France. The Uniform Rules for Collections and other ICC publications are available at your local Chambers of Commerce affiliated with the International Chamber of Commerce.
TENOR
The tenor is the credit term of the draft. It can be at sight (in a sight draft) or after sight or after date (in a term draft).
... CASE OF NEED ...
The case of need is the party in the importers country named by the exporter who may assist in obtaining payment or acceptance of a draft or who may be empowered by the exporter to act fully on his/her behalf---waiving of protest, allowing a discount, etc. Whether the case of need is for guidance or accept their instructions, put an X in the appropriate box.
... DOCUMENTS AGAINST PAYMENT
In the documents against payment (D/P)---documents on payment (DOP or D/P)---the documents attached to the draft (bill) drawn by the exporter and needed to obtain goods are deliverable to the importer only after he/she has paid the draft. The documents against payment (D/P) are applied to a sight draft.
... DOCUMENTS AGAINST ACCEPTA
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