What is DA Terms of Payment Explain in URDU
We explained DA terms of payment, DA stands for Documents Against Acceptance, we describe documents against acceptance process flow in simple words so that you better understand what actually DA Terms of Payment is.
We have already shared detail articles regarding DP Terms of Payment, Advance Payment, and Letter of Credit(LC), you can also read these guides so that you well-understood the terms of payments in import-export business or international market.
Documents Against Acceptance Process Flow
In DP Terms of Payment, after the handover shipment to the shipping line, exporter submit original documents (Bill of Lading / Inspection Certificate / Bill of Exchange / Invoice, etc) to their bank and exporter`s bank sends all documents to buyer’s bank, once buyer bank received original documents so they inform the buyer to collect document, buyer sign bill of exchange and collect original document.
What is Bill of Exchange?
A bill of exchange is a promissory note, and the exporter sends a bill of exchange to the buyer, what’s written in the bill of exchange, in this bill of exchange buyer sign and promise he or she will pay the invoice amount to the exporter after a certain period of days i.e 30 Days, 60 Days, 90 Days or 120 Days.
What is DA Terms of Payment Explain in URDU
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