9.2.2 Notes on Documentary Collection跟单托收注意事项
Success of a documentary collection is largely determined by the importer’s credit standing.The banks involved do not guarantee they can acquire the money for you,nor do they assume any credit risk.They merely act as intermediaries to facilitate the collection,strictly following your instructions.They have no obligation to protect the goods,either.
Under the arrangement of D/P,in case the importer refuses to pay,you do keep title to the cargo,but you would have to renegotiate with the importer for new terms,find another importer,or have the cargo returned.Whichever is the case may result in additional cost in shipping,insurance,and banking charges.This is particular tricky if the merchandise is perishable so that you must find another importer pretty soon.With D/P after sight,even if the importer promises to pay,as he/she cannot take possession of the goods until he/she pays,the goods have to be warehoused in the port or somewhere else,incurring warehousing fees.The customs of the importing country may even confiscate the goods to cover any storage charges incurred.
Under the arrangement of D/P after sight,the importer could be allowed a credit term of 30,45,60 or 90 days from the first presentationof the documents.Even if he/she cannot get hold of the documents from the collecting bank until he/she pays,you still need to guard against an accommodation practice by which the importer manages to borrow the bill of lading from the collecting bank against a trust receipt within the credit term of a time bill of exchange,and then makes payment when the bill of exchange is due,normally after he/she has sold the goods.A trust receipt is a notice of the release of merchandise to a buyer from a bank,with the bank retaining the ownership title of the released assets.In an arrangement involving a trust receipt,the bank remains the owner of the merchandise,but the buyer is allowed to hold the merchandise in trust for the bank,for manufacturing or sales purposes.The trust receipt serves as a promissory note to the bank that the loan amount will be repaid upon sale of the goods.Companies involved in these arrangements typically include equipment dealers,automotive dealers,or dealers of expensive durable goods.This practice often occurs when the goods arrive at destination before the time bill of exchange is due so that the importer wants to borrow the B/L in case he/she misses business opportunities.
Under D/A,in case the importer refuses to accept the bill of exchange,you would be plunged in a similarly unfavorable situation with D/P.Even if the importer accepts the bill,it enables him/her to get hold of the shipping documents and take possession of the goods before making payment.As the exporter,you would take great risks as there is still possibility that the importer defaults when the bill is due.Should that occur,you would lose both the money and goods,and have no choice but try to enforce the importer’s obligation with the help of the collecting bank or by litigation,both of which would result in additional fees.
It should still be noted that,in some countries or regions,such as South America and Europe,there is no such a thing as “D/P after sight”,which would be understood or treated as D/A in practice,meaning that the document of title would be released as long as the importer accepts the time bill of exchange even if a D/P after sight is required,which makes it highly risky to exporters.