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The short versiion... bills that aresubmitted to a bank from another bank for collection and payment.

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12y ago

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Definition of Inward bills for collection?

it is vise versa of OBC


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Inward clearing means the checks drawn by the bank from the other banks. These checks are drawn by the bank/branch customers on their account in favor of other parties.


Differnce between documents against acceptance and documents against payment?

DOP will mean that the instructions by an exporter to a bank that the documents attached to the draft for collection are deliverable only after his or her payment of the draft. DOA will mean that the instructions by an exporter to a bank that the documents attached to the draft for collection are deliverable after his or her acceptance of the goods.


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