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CartuBank

CartuBank


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:

  • D/P – “Documents against payment” – documents are transferred to the buyer upon payment
  • D/A – “Documents against Acceptance” - documents are transferred to the buyer against acceptance of the promissory note and the payment term is pre-determined in the instruction of the documentary collection. This includes involvement in the transaction of the promissory note attached to the documents.

General Terms

Currency

Not defined

Volume of the guarantee

On a case-by-case basis

Collateral

  • N/A

Insurance

Not required

Frequency/schedule of interest payment

On a case-by-case basis