Article 07

Release of Commercial Documents

Documents Against Acceptance (D/A) vs. Documents Against Payment (D/P)

a.    Collections should not contain bills of exchange payable at a future date with instructions that commercial documents are to be delivered against payment.

b.    If a collection contains a bill of exchange payable at a future date, the collection instruction should state whether the commercial documents are to be released to the drawee against acceptance (D/A) or against payment (D/P)

In the absence of such statement commercial documents will be released only against payment and the collecting bank will not be responsible for any consequences arising out of any delay in the delivery of documents.

c.    If a collection contains a bill of exchange payable at a future date and the collection instruction indicates that commercial documents are to be released against payment, documents will be released only against such payment and the collecting bank will not be responsible for any consequences arising out of any delay in the delivery of documents.