Barclays Business Banking : Key Stage 7 - Documentary Collections
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Key Stage 7. Proceeds sent to Remitting Bank if 'at sight', notice of acceptance sent if 'term'

When payment has been received by the Presenting Bank through either 'sight' or 'acceptance', they pay the Remitting Bank by mail or SWIFT (Society for Worldwide Interbank Financial Telecommunications).

 
 
 
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