Person or company undertaking for hire the conveyance of goods e.g. shipping company

Case of Need

Agent nominated by a principal, to whom the collecting bank may refer in specified circumstances concerning collections - see the sections on Collections.

Chaser

Reminder sent by the collecting (or DC issuing) bank to the importer, repeating a request for payment - see Handling Import Collections.

Clean

Used to describe a draft/cheque with no shipping documents - see Collections Introduction.

Used to describe a bill of lading without clauses that expressly declare a defective condition of the goods or the packing.

Clean Bill Purchased

A collection bill purchased with no shipping Purchase documents - see Financing Export Collections.

Clean Bill Receivable (CBR)

BR (Bill Receivable) with no shipping documents. The term is more often used for non-trade bills such as travellers cheques.

Clean Collection

A draft with no documents Collection attached - see Collections ?Introduction?

Clean Import Loan (CIL)

A loan granted to an importer for payment of import bills, without the Bank having any claim to the goods.

Collection Bank

Bank in the drawee country that is instructed to collect payment fr