clean collection
Definition
Documentary collection whereby only the financial document (draft or bill of exchange) is sent through the banks without a bill of lading and/or other shipping documents (which are sent separately by the consignor to the consignee). Used usually in open account arrangements, clean collection allows a consignee to take delivery of the shipment without paying and without making a firm commitment to pay on a fixed date.
Mentioned in these definitions
Popular 'Banking, Commerce & Finance' Terms
clean collection in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/clean-collection.html
