Business Writing_Documentary collections letter

Dear Lee,

Thank you for your correspondence of 1 April, in which your provided us with your updated financial information. We have noted your interest in changing your payment plan. Ager amending our records, we are pleased to offer you Documentary Collection terms for future orders, rather than payment in advance. This method is explained briefly in this letter and in more detail in ther accompanying enclosures.

A overview of our Documentary Collections process

Our documentary collections process uses a draft that binds you to make payment to your bank within 20 days of receiving a shipment. Under these terms, The Deutsch Bank, Frankfurt am Main, will send the necessary documents and instructions to a bank of your choices. To receive a shipment, you accept a time draft sent by us for payment at your bank within 20 days receipt of said shipment, Your bank will contact you to make the payment, Payment will them be sent to Deutsch Bank and then to us.

Steps in the Documentary Collections process
1)We ready your shipment and gather the necessary signatures from our shipping partners. Your goods are shipment.
2)We present the signed shipping documents with instructions on collecting payment to Deutsch Bank.
3)Deutsch Bank sends the documents to a bank you name.
4)Your bank releases the documents on acceptance of our draft requiring payment within 20 days.
5)Your then present the documents to our shipping partner in exchange for the goods.
6)Your bank, after receiving your payment, forwards the amount to Deutsch Bank, which credits our account.

More detailed information is found in the enclosed information sheet, Blmenschein Documentary Collections Terms. We have also enclosed all the necessary documents needed to establish a relationship between your chosen bank and Deutsch Bank( Bank Application Form). If you are interested in these new payment terms, please fill out the enclosed forms and give them to your chosen bank. They will contact Deutsch Bank to establish a connection.

Thank you for your valuable patronage to Blumenschein, Inc. Please let me know if I can be of any additional service.

Sincerely.
Karl