Glossary - collections

Here you can find an explanation of relevant words and expressions used in relation to collections.

Term	Explanation
Acceptance	Written acceptance of a draft/bill of exchange against receipt of documents on a D/A basis (see Documents against acceptance)
Air waybill (AWB)	Air transport document
At sight	Payment with no period of credit
Aval	The bank's guarantee of payment of an accepted bill of exchange/draft
Beneficiary	Recipient of payment
Bill of lading	Sea transport document

Words and expressions in international trade

Glossary documentary credits If you are wondering about words and expressions, glossary documentary creditsSee glossary	Glossary guarantees If you are wondering about words and expressions, glossary guaranteesSee glossary