Remittance

Funds forwarded from one person to another as payment for bought items or services.

Read More

Remittance following collection

In instances when a shipper has performed services incident to the transportation of goods, a carrier will collect payment for these services from the receiver and remit such payments to the shipper. Carriers charge nominal fees for this service.

Read More

Remitter

In a documentary collection, an alternative name given to the seller who forwards documents to the buyer through banks. See documentary collection.

Read More

Remitting bank

In a documentary collection, the bank forwarding the exporter´s documents and the draft to, an receiving payments from, the buyer´s bank (collecting bank). See documentary collection.

Read More