Common use of Collecting Bank Clause in Contracts

Collecting Bank. a banking institution to which the Bank will send a Collection Order and thorough which the collection will be performed and/or designation of a Presenting Bank if the Presenting Bank is not designated.

Collecting Bank. a banking institution institution, to which the Bank will send a sends the Collection Order and thorough with the aid of which the collection will be performed take place and/or designation of a Presenting Bank if will be nominated in case the Presenting Bank is not designatednominated. Collection Order – a notification sent to the Receiver which describes instructions received from the Customer in exchange for the fulfillment of which the Commercial Documents will be handed over to the Receiver.

Collecting Bank. a banking institution institution, to which the Bank will send a sends the Collection Order and thorough with the aid of which the collection will be performed take place and/or designation of a Presenting Bank if will be nominated in case the Presenting Bank is not designatednominated.