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1、INTERNATIONAL SETTLEMENT Chapter 3 COLLECTIONChapter 3COLLECTIONInthischapter,youwilllearn:?Definition, parties and procedures of collection;?Risk protection and financing under collection methods;?The content of collection instruction and collection bill.Section 1 Outline ofCollection一、The definiti
2、on of collection Collection is a kind of payment system, in which creditors submit financial documents or commercial documents or both for obtaining proceeds to the remitting bank and ask it to entrust his relational bank (collecting bank) to make the documents available to the payer. 二、Parties to c
3、ollection P39三、Classification of collections（一）Clean CollectionIt refers to collection of financial documents not accompanied by commercial documents.It is often used to collect remaining funds, advance in cash, sample expense, etc.（二）Documentary Collection It means collection of financial documents
4、 accompanied by commercial documents or commercial documents not accompanied by the financial documents.1、DocumentsagainstPayment(D/P)D/P at sightacceptance D/P (D/P at several days after sight)2、Documents against Acceptance (D/A)Trust Receipt(T/R)四、The procedure of collectionPrincipalPayerShipmentD
5、ocumentary BillCollection InstructionRemitting BankCollecting BankCredit adviceDelivery bill against AcceptanceDelivery bill against PaymentPresentationReceiptApplication /Documentary BillpaymentSection 2 Take Notice of Problems inCollection一、Interest、ChargesandOthers（一）InterestInteresttobecollected
6、mustbeindicatedrateofinterest,interestperiod,basisofcalculationinCollectionInstruction.e.g.?#0046990?PleasecollectinterestfordelayinpaymentcalculatedfrommaturitytothedateofactualpaymentattherateofX%p.a.onthebasisof360daysayearfromthedrawee.?#0046990?Waive/(donotwaive)interestifrefusedbythedrawee.(二)
7、ChargesIfthesellerwishestohavethebuyerpaidthecollectioncharges,ininstructionhemayindicate:?#0046990?Collectioncharges/expensesoutsideChinaareforaccountofthedrawee?#0046990?Waive(donotwaive)chargesifrefusedbythedrawee?#0046990?Collectionchargesmaynotbewaivedandthedraweerefusestopaysuchcharges，thepres
8、entingbankwillnotdeliverdocuments(三)Protestincollectioninstruction:?#0046990?#0046990Donotprotestincaseofdishonour?#0046990?#0046990Protestfor?#0046990?#0046990Non-acceptance?#0046990?#0046990Non-payment?#0046990?#0046990WewillgiveinstructiontoyouuponreceiptofcableairmailadviceofNon-acceptanceNon-pa
9、ymentwithreasons二、InstructionsforproceedsreceivedintheCollectionInstruction1、TheremittingbankhasmaintainedanaccountwiththecollectingbankCo1lection Instruction：When co1lected please credit our account with you under your Cableair mail advice to usCredit advice:Your a/c has been credited collecting ba
10、nkremitting bank2、ThecollectingbankhasmaintainedanaccountwiththeremittingbankCo1lection Instruction：Please co1lect the proceeds and authorize us by Cableairmail to debit your account with usPayment order:We hereby authorize you to debit our account(a/c No.)Debit advice:Your a/c has been debited coll
11、ecting bankremitting bank3、TheremittingbankhasmaintainedanaccountwiththeXbankThe proceeds Co1lection Instruction：is remitted to Please co1lect and remit you for credit the proceeds to X Bank for of A banks credit our account with account (a/c them under their CableNo.)airmail advice to usCredit advi
12、ce:Your a/c has been credited remitting bankcollecting bankX bank三、Collection Instruction and Collection Bill（一）Collection Instruction /Covering LetterRemitting bank makes it according to the application given by the principle （Attachment）（二）CollectionBillDrawer:Principal;Drawee:Payer;Payee:1、Principal2、RemittingBank3、CollectingBankDrawnunderclause:eg.Drawnagainstshipmentof16cartonsofCashmerefromTianjintoHongkongforcollection.四、Thecautionsforsellers
