|
Home > eBooks > ICC Uniform Rules for Collections, URC 522 eBook
ICC Uniform Rules for Collections, URC 522 eBook
|
Pub No. : 522 eBook
|
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
ICC 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 |
|
Product Reviews
|
|
|