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| Inward Bills for Collection |
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| Referring to inward documents which are not drawn under the Letter of Credit and received by the bank on behalf of a buyer on a collection basis. The bank will adhere strictly to the instructions stated in the covering schedule. It will safeguard the seller's title to goods until either payment is received (Documents Against Payment) or the buyer accepts a Bill of Exchange to pay at a maturity date (Documents Against Acceptance). |
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