A document that requires the buyer to pay the seller the face amount either when the product arrives or at a specified time in the future at which point title to the product then passes to the buyer is known as

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A documentary collection is a transaction where the seller entrusts the collection of payment to their bank, which sends documents to the buyer's bank with instructions to release them to the buyer upon payment. The title passes to the buyer when the payment is made.

A Document That Requires the Buyer to Pay the Seller