Documents against AcceptanceDAA

DAA works like DAP, except that the bill of exchange is a usance (time) bill, for example payable 60 or 90 days after sight or after the shipment date. The importer signs ('accepts') the bill, receives the documents, clears and sells the goods, and pays on the due date.

This gives the importer a period of credit from the exporter, which is useful for working capital. For the exporter, however, the risk is higher than under DAP: once the documents are released, the importer has the goods but may not pay at maturity. The exporter's protection is the accepted bill of exchange, which is a legal instrument that can be enforced through courts or protested, and which can sometimes be discounted with a bank to obtain early funds.

Because the collecting banks do not guarantee payment, DAA is generally used only between parties who trust each other, or where the exporter has export credit insurance. A bank-guaranteed alternative is an usance LC, or the collecting bank can add an aval (guarantee) to the accepted bill.

Collections are governed by URC 522. In Nepal, imports under DAA are subject to NRB's foreign exchange directives, which set conditions and limits for this mode.

DAA, DAP जस्तै हो तर विनिमय पत्र म्यादी (usance) हुन्छ, जस्तै दृष्टि वा ढुवानी मितिबाट ६० वा ९० दिनपछि तिर्ने। आयातकर्ताले विनिमय पत्र स्वीकार (हस्ताक्षर) गरी कागजात लिन्छन्, सामान छुटाई बेच्छन् र म्याद पुगेपछि तिर्छन्।

यसले आयातकर्तालाई निर्यातकर्ताबाट उधारो अवधि दिन्छ, तर निर्यातकर्ताको जोखिम DAP भन्दा बढी हुन्छ, किनकि कागजात हस्तान्तरणपछि आयातकर्ताले म्यादमा नतिर्न सक्छन्। स्वीकृत विनिमय पत्र कानुनी रूपमा कार्यान्वयनयोग्य हुन्छ र बैंकमा डिस्काउन्ट गर्न सकिन्छ।

सङ्कलन बैंकले भुक्तानी ग्यारेन्टी नगर्ने भएकाले विश्वासिला पक्षबीच मात्र प्रयोग हुन्छ; बैंक प्रतिबद्धता चाहिए म्यादी प्रतीतपत्र प्रयोग गरिन्छ। नेपालमा DAA आयात नेपाल राष्ट्र बैंकको विदेशी विनिमय निर्देशनको सर्त र सीमाभित्र हुन्छ।