When Banks Send LC Documents “on Collection Basis”: Clarifying the Confusion In documentary credit practice, few terms cause more misunderstanding than “documents sent on collection basis” — especially when a letter of credit (L/C) is involved and payment is at stake. In this Q&A, Mr. Old Man responds to a concerned exporter whose bank forwarded documents to the issuing bank after noting discrepancies. Are the documents still governed by UCP 600? … Read More