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ICC Uniform Rules for Collections, URC 522 eBook

Price: $35.00
Item No.: 522 eBook
ISBN: 978-92-842-1184-5

THIS IS AN eBOOK.  AFTER COMPLETING THE ORDER PROCESS, AN EMAIL WITH DOWNLOAD INSTRUCTIONS WILL BE SENT TO YOU.  Thank you!

ICC Uniform Rules for Collection, URC 522
In force as of January 1, 1996
 
Pub No. 522 eBook
1995 Edition
32 pages
 
The ICC Uniform Rules for Collections are a practical set of Rules to aid bankers, buyers, and sellers in the collections process. The Rules have been prepared to resolve problems that practitioners have experienced in their everyday operations since 1979.

URC 522
underlines the need for the principal and/or the remitting bank to attach a separate document, the collection instruction, to every collection subject to the Rules - makes it very clear that banks will not examine documents, particularly not to look for instructions - addresses problems banks experience in respect of documents against acceptance (D/A) and documents against payment (D/P) - clearly indicates that banks have no obligation to store and insure goods when instructed.
 

Table of Contents
 
 
A. General Provisions and Definitions Article
Application of URC 522 1
Definition of Collection 2
Parties to a Collection 3

B. Form and Structure of Collections

Collection Instructions 4

C. Form of Presentation

 
Presentation 5
Sight/Acceptance 6
Release of Commercial Documents  
Documents Against Acceptance (D/A) vs  
Documents Against Payment (D/P) 7
Creation of Documents 8

D. Liabilities and Responsibilties

 
Good Faith and Reasonable Care 9
Documents vs. Goods/Services/Performances 10
Disclaimer for Acts of an Instructed Party 11
Disclaimer on Documents Received 12
Disclaimer on Effectiveness of Documents 13
Disclaimer on Delays, Loss in Transit and Translation 14
Force Majure 15

E. Payment

 
Payment without Delay 16
Payment in Local Currency 17
Payment in Foreign Currency 18
Partial Payments 19

F. Interest, Charges and Expenses

 
Interest 20
Charges and Expenses 21

G. Other Provisions

 
Acceptance 22
Promissory Notes and Other Instruments 23
Protest

24

Case-of-Need 25
Advices 26
 

 

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