The calculations under the collection as a form of non-cash payments

Collection is one of the oldest banking operations. In contrast from settlements under the letter of credit, when used by participants foreign economic contrast settlements in the from of collection authorized upon receipt of payment, the party having fulfilled its obligations under contract, instructs its bank to receive payment from the other party by providing proof of fulfilled obligations relevant documentation. This article is devoted to the analysis of types and forms of collection, the main theoretical and practical provisions on the topic.