QUESTION

Agrees Par Les Ralph Lauren (Ralph Lauren), is an international distributor of branded parfumes based in Paris, France. It engages UNZA Malaysia Sdn Bhd (UNZA), a parfume manufacturing and distributing company operating in Shah Alam, Malaysia to be one of its suppliers for the Asean markets. Under the agreement between them, UNZA is to direct all billings to Ralph Lauren in Paris for all the supplies sent to selected parfume sales outfits in the Asean countries. Both Ralph Lauren and UNZA agree to engage their respective banks collection services for the settlement of the trade transactions among them. The main banker for Ralph Lauren is Societe Generale (SocGen) Bank in Paris while for UNZA, the main banker is a branch of Cina India Melayu Bank (CIMB) in Shah Alam. SocGens main correspondent agent in Malaysia is Really Hungry Bank (RHB) while CIMBs main correspondent agent in France is Banque Paribas in Paris.

A. You are required to describe the above scenario by illustrating stages in documentary collection process (assuming collection under documents against payment, D/P)

THIS SUBJECT IS INTERNATIONAL TRADE AND FINANCE

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