Documentary Collections
Documentary Collection is a popular method of payment in which California Bank & Trust (CB&T) serves as an intermediary between you and your customer. On behalf of you, the exporter, the party initiating the collection, we present a collection item through a collecting bank for payment by your customer. The collecting bank does not credit the funds until it has received good value funds from your customer. We provide services for documentary collections as well as clean collection (a draft without documents). more
Two common types of collections are:
1. Documents Against Payment (D/P) - With documents against payment, the importer/buyer must pay before the shipping documents are released.
2. Documents Against Acceptance (D/A) - In documents against acceptance, the buyer must accept a usance (time) draft before receiving the shipping documents. Acceptance of the draft is the importer's promise to pay at maturity. Should payment not be made at maturity, a bank is under no liability and is not responsible to attempt to collect the past due funds.
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Drafts Against Payment 
Can be used for advance payments from the buyer before shipment.
Documents Against Payment
Can by used for payment before title is released to the buyer.
Documents Against Acceptance
Can be used for payment by trade acceptance in lieu of cash
Collections Field Definitions
Consumer
