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| Acceptance | Written acceptance of a draft/bill of exchange against receipt of documents on a D/A basis (see Documents against acceptance) |
| Air waybill (AWB) | Air transport document |
| At sight | Payment with no period of credit |
| Aval | The bank's guarantee of payment of an accepted bill of exchange/draft |
| Beneficiary | Recipient of payment |
| Bill of lading | Sea transport document |
| Cash against documents (CAD) | Payment against documents |
| Clean collection | When only a draft is sent for collection (see Financial documents below) |
| CMR waybill | Overland transport document |
| Collecting bank | The bank through which documents are sent for presentation |
| Collection order | The seller's instruction to a bank to send a set of documents for collection |
| Commercial documents | Documents concerning goods or services |
| Consignee | Recipient of goods |
| Consignor | Sender of goods |
| Direct collection | Used when an exporter sends documents and an instruction letter direct to the foreign bank |
| Dishonour | Lack of payment or lack of acceptance |
| Documents against acceptance (D/A) | Collection instructions stating that the documents may be handed over to the buyer against his acceptance of a draft |
| Documents against payment (D/P) | Collection instructions stating that the documents may be handed over to the buyer against payment |
| Drawee | Person or company who will pay the collection |
| Drawer | Person or company who will receive payment under the collection |
| Due date | Date on which payment is due |
| Financial documents | Drafts/bills of exchange sent for payment unaccompanied by other documents |
| For account of | To be paid by |
| Maturity | The date a payment matures, or falls due |
| Past due | An accepted draft which is not paid at maturity |
| Presenting bank | The bank that presents an import draft or documents to the importer against payment or acceptance |
| Promissory letter | A written promise to pay a given amount on a given date |
| Promissory note | Draft issued by the buyer |
| Protest | An endorsement by a judge on the reverse of a draft, confirming that the draft has not been paid or accepted |
| Remitting bank | The bank that sends the collection documents on behalf of the exporter |
| Tenor | The period of deferred payment given by the exporter |
| URC 522 | The international rules for collections, Uniform Customs and Practice for Collections, ICC Publication No. 522 |
| Waive charges/interest | For the buyer to decline to pay charges or interest |
| Written undertaking | A written statement that a party will pay a given amount on a given date |