Remitting bank

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Remitting Bank.
The bank that sends the draft to the overseas bank for collection.

Remitting Bank:
The bank instructed to handle collections, which in turn instructs the collecting bank.
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Remitting bank
The bank to which the exporter has entrusted the handling of the Collection (often the exporter's bank).
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Remitting bank - Refers to the bank that has sent the draft to a bank overseas for collection.
Remuneration - The act of paying for an item or to recompense an individual or entity for losses (Example: receiving your pay).

Collecting Bank - The bank that acts as the agent of the seller to collect payment(s) from the buyer and then transfer the payment(s) to the remitting bank (seller's bank).

See also: Banks, Bills, Collecting bank, Letter of credit, Outsourcing