Clean Collection
Investopedia | 2014-06-04 18:30

Documented collection of only the financial document that is processed through the banks without a bill of lading and/or other shipping documents, typically the draft or a bill of exchange. These are sent separately by the consignor to the consignee. Used typically in open account agreements. Clean collection releases a consignee to take delivery of the shipment without paying and without making a firm commitment to pay on a fixed date.

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