or collection, or under a DC - usually submitted with attached shipping documents - not to be confused with a bankers draft which is sometimes used as a vehicle for reimbursement.

Drawee

Party on whom a bill is drawn and the one to whom presentation is to be made according to the collection order - the importer (NB: for DC bills, the drawee is usually the DC issuing bank).

Drawer

The exporter, who draws the Bill of Exchange/draft which in itself is a claim for payment.

Due Date

Maturity date for payment

E

Expiry Date

Latest date, usually in the country of the beneficiary, on which negotiation/payment of a DC can take place.