First of all, these two processes are different:
1. Process of D/P at sight: In the contract, the importer and exporter agree to pay by D/P at sight. It means that after the exporter loads the goods according to the contract, he fills in the power of attorney for collection, draws a sight draft and sends it to the bank for payment and collection together with a full set of shipping documents.
The collecting bank will send the draft together with the shipping documents and instructions in the power of attorney to the agent bank at the place of import. This means that the presenting bank will present payment to the importer when it receives the draft and shipping documents. It means that the importer has paid the payment and redeemed the full set of documents. This means that the collecting bank sends a telegram (or mail) to the collecting bank to inform it that the money has been received and transferred. It means that the collecting bank pays the money to the exporter.
2. D/P process of forward payment: the buyer and the seller agreed in the contract to settle the payment by D/P of forward payment; After loading the goods, the exporter shall prepare relevant documents, draw up a time draft and deliver it to the collection bank for collection of time payment; The collecting bank shall hand over the power of attorney and the collection documents to the collecting bank;
The collecting bank presents the time draft to the importer, and the importer accepts it and forwards it to the collecting bank; On the maturity date of the draft, the collecting bank presents the draft again, and the importer pays off the payment for the documents; After deducting the relevant expenses and remuneration, the collecting bank will hand over the payment to the collecting bank, and the collection of the forward payment will be completed.
Second, the essence of the two is different:
1. The essence of D/P at sight: after delivery, the exporter draws a draft at sight with the shipping documents and reminds the importer through the bank. The importer pays the bill immediately after seeing it, and receives the shipping documents from the bank after paying the payment.
2. The essence of D/P in the future: the importer will accept the bill immediately after seeing it and checking it correctly, and pay the bill on the maturity date.
Third, the two have different concerns:
1. Precautions for D/P at sight: The collecting bank will present the draft at sight to the importer, and the importer will pay the redemption bill immediately after reviewing the relevant documents, and the payment will be delivered at the same time as the documents representing the ownership of the goods.
2. Precautions for future D/P: The importer of future D/P can only get the delivery documents after payment, that is to say, in the case of future D/P, the importer can't get the documents when he receives the first notice from the bank, and can only get the documents after accepting the payment of future D/P.
Baidu encyclopedia-D/P in the future
Baidu encyclopedia-D/P at sight
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