The Remitting Bank is the Exporter's bank, the Presenting Bank is the Importer's Bank.

The Presenting/Collecting Bank is any bank other than the Remitting Bank involved in processing the collection.

Choice of 2 delivery channels

There are two alternative delivery channels: paper-based; e-banking.

• Paper-based
  Exporter completes a paper Collection schedule, encloses the relevant documentation and forwards it to the Exporter's bank for checking and onward remittance to the Importer's bank (the 'Presenting/Collecting Bank').
• E-banking
  Exporter prepares an electronic Collection schedule using an electronic delivery channel and then posts the documents direct to the Importers' bank.

The cost of the collections service will be determined by the choice of delivery channel, with electronically originated applications being the lowest cost option.

Method of Sending

For the two channels of delivery described above, the documents can be sent to the Importer's bank by either of the two methods below. The Exporter decides what method is used. This is indicated on the schedule form:

1. Mail - the standard choice unless otherwise indicated.
2. Courier - useful when documents need to be presented quickly.