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Definition of Terms of Payment
Definition of Terms of Payment
Documents Against Acceptance (D/A) Arrangement under documentary collection in which an exporter instructs the presenting bank to hand over shipping and title documents to the importer only if the importer accepts the accompanying bill of exchange or draft by signing it. Documents Against Payment (D/P) Arrangement under documentary collection in which an exporter instructs the presenting bank to hand over shipping and title documents to the importer only if the importer fully pays the accompanying bill of exchange or draft.