Hi there! I think you can use documentary foreign trade at a macroeconomic level as well. The "documentary" part just means that payment is processed via the bank when certain documents are furnished to ensure that certain criteria are met.

"Documentary business
In foreign trade, the importer's main concern is punctual delivery of the agreed quality and quantity of goods, whereas for the exporter, ensuring punctual payment in the agreed currency assumes the highest priority.


The decision as to whether documentary collection or documentary credit should be used for payment settlement (and, where appropriate, for securing payment) depends on numerous criteria.

Documentary collection
Documentary collection means the collection of receivables via a bank (without any promise of fulfilment on the part of the bank) against the presentation of documents. Payment settlement by means of documentary collection requires that there should be no doubt over the fulfilment intent and performance capacity of the contractual partners.

Documentary credit
This comprises the contractual obligation of a bank to make a particular monetary payment on behalf of, for the account of and according to the instructions of a customer against the transmission of certain documents and upon fulfilment of particular conditions. This obligation is abstract, i.e. no objections based on the underlying transaction are possible. Documentary credit has three functions: security, making payment and financing"