国际结算笔记4(11)

Chapter5 means of international settlement– Parties The principal (seller/drawer): the person who prepares documents and submits them to his bank (remitting bank) with a collection order for payment from the buyer (drawee); The remitting bank: the bank receiving documents from the seller for forwarding to the buyer’s bank along with instructions for payment; The collecting or presenting bank: the bank that presents the documents to the buyer and collects cash payment or a promise to pay in the future from the buyer in exchange for the documents. The drawee (buyer): the party that makes cash payment or accepts a draft in exchange for the documents from the collecting bank.

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