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FrançaisCountry risk classification provided by the French company COFACE (Compagnie Française d’Assurance pour le Commerce Extérieur), world leader in export insurance that is very useful to know the country risk and the business climate in 160 countries. It offers a…
Read MoreCollateral
An interest in property given by a debtor to a creditor in order for the creditor to secure payment of the debt. For example, an applicant for a letter of credit might pledge the goods for which the credit is…
Read MoreCollecting bank
Any bank, other than the remitting bank, that is involved in processing a collection. In collection terminology the remitting bank is the bank to which the drawer has entrusted the handling of a collection, usually the drawer´s bank of account.
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A set of documents including a letter or completed form indicating the drawer´s instructions (called a collection letter), and often accompanied by a draft or drafts, invoices, packing lists, and other documents as agreed by the drawer and drawee. Collections…
Read MoreCollection fee
The charges banks impose for handling collections.
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