Export Collection definition

Export Collection means a Collection where we act on your behalf for collecting and receiving payment for a shipment.
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Export Collection means the service offered by the Bank wherein the Bank would forward the documents provided by an Account Holder, in its capacity as an exporter of goods, to the bank of the importer of the said goods instructing delivery of the said documents to the importer either on payment or on acceptance by the importer of bills of exchange drawn by the Account Holder.
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Examples of Export Collection in a sentence

  • Unless notified otherwise by the Bank, you agree and understand that the Export Collection Service will be subject to the ICC Uniform Rules for collections and 1995 Revision (ICC Publication No.522) as amended or replaced from time to time.

  • You agree that the Bank is not responsible for the genuineness and correctness of the documents relating to the Export Collection or the quality and condition of the goods or their delivery.

  • Party A, however, shall submit to Party B an Application for Drawing and/or other relevant applications (including without limitation Application for Documentary Credit and Commitment Letter, Application for Shipping Guarantee, Application for T/R Loan under L/C, Application for Packing Loan, and Memorandum for Presentation of Documents under Export L/C or Export Collection) and Party B shall issue a Notice of Drawing upon its approval of such applications.

  • A request to provide the Service relating to Export Collection shall be made by you by at least one (1) Business Day prior to the required date, in such form as may be acceptable to the Bank.

  • Line for Loan under Export Collection refers to the credit line under which Party B is to provide short term financing with recourse to Party A during the course of documentary collection under export L/C upon the presentation by Party A of the documents.

  • You agree that the above conditions and provisions shall also govern any and all extensions, increase and/ or other amendments to the terms of the credit underlying the transaction in relation to which the Export Collection Service is rendered by the Bank.

  • You agree that all and any bills of exchange and/or documents presented in connection with the Export Collection will be couriered at your risk and cost.

  • The Bank shall inform the collecting bank on the documents by issuance of an Export Collection Notification setting out the terms and conditions relating to release of the documents.

Related to Export Collection

  • Net Collections With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

  • Debt collection means the collection of unpaid tolls and applicable administrative fees by (i) 652 retention of a third-party debt collector or (ii) collection practices undertaken by employees of a toll 653 facility operator that are materially similar to a third-party debt collector.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • SUBI Collections has the meaning set forth in the Indenture.

  • Vapor collection system means a vapor transport system which used direct displacement by the gasoline being transferred to force vapors from the vessel being loaded into either a vessel being unloaded or a vapor control system or vapor holding tank.