The documentary collection is a type of clearing allowing payment by way of circulation of various documents via the bank channels. User of the documentary collection may be a self-employed person or a legal entity registered according to the Laws of Georgia.
In case of the documentary collection, the main function of the buyer’s servicing bank is transfer of the submitted documents according to the relevant instruction.
The documents are transferred as follows:
General Terms
Currency |
Not defined |
Volume of the guarantee |
On a case-by-case basis |
Collateral |
|
Insurance |
Not required |
Frequency/schedule of interest payment |
On a case-by-case basis |