How to prevent remitting banks send docs to branches

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin;
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How to prevent remitting banks send docs to branches

Post by TradeLaporte » Wed Jul 02, 2014 9:12 pm

Dear Members

We have many cases where remitting banks are sending documents to our branches or agencies . This units are not aware of how to handle documentary collections and in many instances get surprise with their customers to deliver documents to them without the collection process. Should we request in the Urr that Banks should address these collections to only International trade units or foreign documentary departments to mitigate the risk ? Your comments highly appreciated it

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doc. collection

Post by Gul » Tue Oct 14, 2014 3:43 pm

in my opinion this is not an option to put such restrictions in any rules
the banks should inform their clients of the branches where to send the documents to in case if such clients intend to receive documents from their customers on doc. collection basis.

also information in open sources (like Bankers Almanach etc.) should be updated, because sometimes remitting banks check Bankers Almanach or other similar sources when they don't have the exact address of the collecting bank.

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Re: How to prevent remitting banks send docs to branches

Post by LLawrence » Fri Apr 19, 2019 2:27 am

You should instruct bank where to send the documents. You can put in 'Special Instruction' the address where the docs can be sent, however, on any reason if bank is not happy with the address you provided - they will contact you.

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