Preview

Report on Documentary Collection

Powerful Essays
Open Document
Open Document
3176 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Report on Documentary Collection
Chapter One
Introduction
1.1 Background
Documentary Collection is the Collection by a bank of funds due from a buyer against the delivery of documents. Among the different types of payment methods, Documentary Collection is the second most important method.
International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP). Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders.

International trade is, in principle, not different from domestic trade as the motivation and the behaviour of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or culture.
1.2 Objectives
This study is basically an attempt of assessing the status of Documentary Collection as an international trade payment methods practiced in Bangladesh.

The specific objectives of the study are: I) To identify the existing practice of Documentary Collection incorporating its procedure, documentation, cost, risks and time involvements. II) To analyze the legal and regulatory aspects of Documentary Collection and deviation in operation in Bangladesh. III) To identify the difficulties from the points of view of traders and bankers while practicing Documentary Collection as international trade payment method.



References: Annual Report (2010), United Commerce Bank Limited Annual Report (2010), IFIC Bank Limited Annual Report (2010), Rupali Bank Limited BIBM Course Materials on “International Trade Payment and Methods”

You May Also Find These Documents Helpful

  • Better Essays

    International trade is the exchange of goods, capital, and services across international borders or territories. In most countries this trade represents a significant share of their (GDP) gross domestic product. This type of trade has political, economic, and social importance to all nations involved. There are many factors surrounding international trade, such as, advantages, limitations, foreign exchange rates, and others. As we review these factors, this will allow us to better understand how international trade truly functions.…

    • 1417 Words
    • 6 Pages
    Better Essays
  • Best Essays

    International trade is opening doors to new entrepreneurial opportunity across the world. It is also providing countries with a greater choice of goods and services while being an important engine for creating jobs in many countries. Trade theories are constantly being reviewed to try and improve the economy; however there will never be a method that will satisfy everyone and help those opposed to free trade see the benefits. Some of the key reasons why groups are opposed to globalistaion and international trade are because they blame it for eroding standards of living and ruining ways of life. However on the other hand supporters of international trade say it improves standards of living and makes possible new ways of life.…

    • 3880 Words
    • 16 Pages
    Best Essays
  • Better Essays

    International trade is the purchase, sale or exchange of goods and services across national borders. (Griffin, Pustay, 2010) International trade is important not only for the country exporting the goods by means of revenue for the exporting country but also for the importing country by means of bringing in goods that country may not have readily accessible. This trade relationship between countries not only provides a greater choice of goods for consumers but also provides for job creation in many countries as well.…

    • 1045 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    ASSIGNMENT on Income Tax Authorities in Bangladesh [pic] National Board of Revenue – NBR Rajashwa Bhaban Segunbagicha, Dhaka Telephone: +88 02 933-3444. http://www.nbr-bd.org National Board of Revenue (NBR), Bangladesh. Page 2 of 31 Table of contents: |Serial |Topic |Page No. | |I…

    • 5976 Words
    • 24 Pages
    Powerful Essays
  • Powerful Essays

    Aarong

    • 4273 Words
    • 18 Pages

    A WORKING REPORT ON PRACTICE OF LABOUR CODE ACTS OF BANGLADESH IN A COMPANY FROM RMG SECTOR, RUPA GROUP.…

    • 4273 Words
    • 18 Pages
    Powerful Essays
  • Satisfactory Essays

    International Business

    • 1283 Words
    • 6 Pages

    – helps explain trade patterns – analyses the basic of and the gains from international trade – focuses on the microeconomic aspects of the international economy…

    • 1283 Words
    • 6 Pages
    Satisfactory Essays
  • Powerful Essays

    This is to certify that this internship report on “Consumer Credit Scheme of Commercial Banks in Bangladesh – The case study on Janata Bank limited.”…

    • 16279 Words
    • 66 Pages
    Powerful Essays
  • Satisfactory Essays

    Import and Export

    • 2265 Words
    • 16 Pages

    Export: In international trade export refers to selling goods and services produced in the home…

    • 2265 Words
    • 16 Pages
    Satisfactory Essays
  • Powerful Essays

    Law It Act

    • 13677 Words
    • 55 Pages

    New communication systems and digital technology have made dramatic changes in the way we live and the need to transact our daily business. There is a remarkable change in the way people transact business. Businessmen are increasingly using computers to create, transcript and store information in electronic form instead of traditional paper documents. It is cheaper, easier to store and retrieve and speedier to communicate. Although people are aware o the advantages which the electronic form of business provides, people are reluctant to conduct business or conclude and transact in the electronic form due to lack of appropriate legal framework. Electronic commerce eliminates need for paper based transaction. The two principle hurdles which stand in the way of facilitating electronic commerce and electronic governance are the requirements of writing and signature for legal recognition. At present many legal provisions assume the existence of paper based records and documents which should bear signatures. The Law of Evidence is traditionally based upon paper based records and oral testimony. Hence, to facilitate e-commerce, the need for legal changes has become an urgent necessity. International trade through the medium of e-commerce is growing…

    • 13677 Words
    • 55 Pages
    Powerful Essays
  • Good Essays

    here are many things that are important about international trade, economic integration and global markets. Without international trade, businesses wouldn 't be as profitable and economies would suffer.…

    • 1509 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    International Trade

    • 261 Words
    • 2 Pages

    Trading globally gives consumers and countries the opportunity to be exposed to goods and services not available in their own countries. Almost every kind of product can be found on the international market: food, clothes, spare parts, oil, jewelry, wine, stocks, currencies and water. Services are also traded: tourism, banking, consulting and transportation.…

    • 261 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    International Trade has been a long standing practice between foreign nationals. Countries require commodities or goods from other countries for their needs. They in turn provide the reciprocal thus enhancing the countries development and economics. Because of the cultural and foreign business barriers, countries have to communicate effectively.…

    • 2052 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    In summary, international trade is a beneficial economic phenomenon overall. It allows countries to exercise their comparative advantage for certain goods, raising the total level of production and consumption…

    • 717 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Business Finance

    • 2355 Words
    • 10 Pages

    “International trade is the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events”.…

    • 2355 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    International trade

    • 800 Words
    • 4 Pages

    International trade is the exchange of goods and services between countries. For example, you can find Australia’s beef, Brazilian coffee, Japanese wine in a supermarket. Nearly everything can be found on the international market. A product sells to an international market is called export while a purchased product from international market is called import. There are reasons that countries involve in international trade. For instance, some countries lack of raw materials like timber, rubber, oil or petroleum. Therefore, these countries must trade with Malaysia or other countries in order to get what they want. Its citizens are not able to produce the final goods like furniture if the country does not involve in international trade. In most countries, international trade represents a significant of gross domestic product (GDP). However, it can bring pros and cons to a country.…

    • 800 Words
    • 4 Pages
    Good Essays