Documents”means financial documents and/or commercial documents:
I. “Financial documents”means bills of exchange,promissory notes, cheques, or other similar instruments used for obtaining the payment of money;
II. “Commercial documents” means invoice,transport documents,documents of title or other similar documents,or any other documents whatsoever, not being financial documents.
c.”Clean collection” means collection of financial documents not accompanied by commercial documents.
d.”Documentary collection”means collection of:
I. financial documents accompanied by commercial documents;
II.Commercial documents not accompanied by financial documents.
Article 3
a. For the purposes of these Articles the “parties thereto” are:
I. the “principal” who is the party entrusting the handling of a collection to a bank;
II. the “remitting bank” which is the bank to which the principal has entrusted the handling of a collection;
III. “collecting bank” which is any bank,other than the remitting bank, involved in processing the collection;
IV. the “presenting bank” which is the collecting bank making presentation to the drawee.
b. The “drawee” is the one to whom presentation is to be made in accordance with the collection instruction.
B．Form and Structure of Collections
Article 4
Collection Instruction
A i. All documents sent for collection must be accompanied by a collection instruction indicating that the collection is subject to URC522 and giving complete and precise instructions. Banks are only permitted to act upon the instructions given in such collection instruction,and in accordance with these Rules.
ii. Banks will not examine documents in order to obtain instructions.
iii. Unless otherwise authorized in the collection instruction, banks will disregard any instructions from any party/bank other than the party/bank from whom they received the collections.
B A collection instruction should contain the following items of information,as appropriate.
i. Details of the bank from which the collection was received including full name,postal and SWIFT addresses,telex,telephone,facsimile numbers and referece.
ii. Details of the principal including full name, postal address,and if applicable telex,telephone and facsimile numbers.
iii. Details of the drawee including full name,postal address,or the domicile at which presentation is to be made and if applicable telex, telephone and facsimile numbers.
iv. Details of the presenting bank,if any,including full name,postal address,and if applicable telex, telephone and facsimile numbers.
v. Amount(s) and currency(ies) to be collected.
vi. List of documents enclosed and the numerial count of each document.
vii. a) Terms and conditions upon which payment and/or acceptance is to be obtained.
b) Terms of delivery of documents against:
1) payment and/or acceptance
2)other terms and conditions
It is the responsibility of the party preparing the collection instruction to ensure that the terms for the delivery of documents are clearly and unambiguously stated, otherwise banks will not be responsible for any consequences arising therefrom.
viii. Charges to be collected, indicating whether they may be waived or not.
ix. Interest to be collected, if applicable, indicating whether it may be waived or not, including:
a) rate of interest
b) interest period
c) basis of calculation (for example 360 or 365 days in year) as applicable.
x. Method of payment and form of payment advice.
xi. Instrucitons in case of non-payment, non-acceptance and/or non-compliance with other instructions.
i. Collection instructions should bear the complete address of the drawee or of the domicile at which the presentation is to be made. If the address is incomplete or incorrect, the collecting bank may, without any liability and responsibility on its part, endeavour to ascertain the proper address.
ii. The collecting bank will not be liable or responsible for any ensuing delay as a result of an incomplete.incorrect address being provided.
B. Form of Presentation
Article 5
Presentation
a. For the purposes of these Articles, presentation is the procedure whereby the presenting bank makes the documents available to the drawee as instructed.
b. The collection instruction should state the exact period of time within which any action is to be taken by the drawee.
Expressions such as “first”, “prompt”,”immediate”, and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee. If such terms are used banks will disregard them.
c. Documents are to be presented to the drawee in the form in which they are received, except that banks are authorized to affix any necessary stamps, at the expense of the party from whom they received the collection unless otherwise instructed, and to make any necessary endorsements or place any rubber stamps or other identifying marks or symbols customary to or required for the collection operation.
d. For the purpose of giving effect to the instructions of the principal, the remitting bank will utilize the bank nominated by the principal as the collecting bank. In the absence of such nomination, the remitting bank will utilize any bank of its own, or another bank’s choice in the country of payment or acceptance or in the country where other terms and conditions have to be complied with.
e. The documents and collection instruction may be sent directly by the remitting bank to the collecting bank or through another bank as intermediary.
I. “Financial documents”means bills of exchange,promissory notes, cheques, or other similar instruments used for obtaining the payment of money;
II. “Commercial documents” means invoice,transport documents,documents of title or other similar documents,or any other documents whatsoever, not being financial documents.
c.”Clean collection” means collection of financial documents not accompanied by commercial documents.
d.”Documentary collection”means collection of:
I. financial documents accompanied by commercial documents;
II.Commercial documents not accompanied by financial documents.
Article 3
a. For the purposes of these Articles the “parties thereto” are:
I. the “principal” who is the party entrusting the handling of a collection to a bank;
II. the “remitting bank” which is the bank to which the principal has entrusted the handling of a collection;
III. “collecting bank” which is any bank,other than the remitting bank, involved in processing the collection;
IV. the “presenting bank” which is the collecting bank making presentation to the drawee.
b. The “drawee” is the one to whom presentation is to be made in accordance with the collection instruction.
B．Form and Structure of Collections
Article 4
Collection Instruction
A i. All documents sent for collection must be accompanied by a collection instruction indicating that the collection is subject to URC522 and giving complete and precise instructions. Banks are only permitted to act upon the instructions given in such collection instruction,and in accordance with these Rules.
ii. Banks will not examine documents in order to obtain instructions.
iii. Unless otherwise authorized in the collection instruction, banks will disregard any instructions from any party/bank other than the party/bank from whom they received the collections.
B A collection instruction should contain the following items of information,as appropriate.
i. Details of the bank from which the collection was received including full name,postal and SWIFT addresses,telex,telephone,facsimile numbers and referece.
ii. Details of the principal including full name, postal address,and if applicable telex,telephone and facsimile numbers.
iii. Details of the drawee including full name,postal address,or the domicile at which presentation is to be made and if applicable telex, telephone and facsimile numbers.
iv. Details of the presenting bank,if any,including full name,postal address,and if applicable telex, telephone and facsimile numbers.
v. Amount(s) and currency(ies) to be collected.
vi. List of documents enclosed and the numerial count of each document.
vii. a) Terms and conditions upon which payment and/or acceptance is to be obtained.
b) Terms of delivery of documents against:
1) payment and/or acceptance
2)other terms and conditions
It is the responsibility of the party preparing the collection instruction to ensure that the terms for the delivery of documents are clearly and unambiguously stated, otherwise banks will not be responsible for any consequences arising therefrom.
viii. Charges to be collected, indicating whether they may be waived or not.
ix. Interest to be collected, if applicable, indicating whether it may be waived or not, including:
a) rate of interest
b) interest period
c) basis of calculation (for example 360 or 365 days in year) as applicable.
x. Method of payment and form of payment advice.
xi. Instrucitons in case of non-payment, non-acceptance and/or non-compliance with other instructions.
i. Collection instructions should bear the complete address of the drawee or of the domicile at which the presentation is to be made. If the address is incomplete or incorrect, the collecting bank may, without any liability and responsibility on its part, endeavour to ascertain the proper address.
ii. The collecting bank will not be liable or responsible for any ensuing delay as a result of an incomplete.incorrect address being provided.
B. Form of Presentation
Article 5
Presentation
a. For the purposes of these Articles, presentation is the procedure whereby the presenting bank makes the documents available to the drawee as instructed.
b. The collection instruction should state the exact period of time within which any action is to be taken by the drawee.
Expressions such as “first”, “prompt”,”immediate”, and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee. If such terms are used banks will disregard them.
c. Documents are to be presented to the drawee in the form in which they are received, except that banks are authorized to affix any necessary stamps, at the expense of the party from whom they received the collection unless otherwise instructed, and to make any necessary endorsements or place any rubber stamps or other identifying marks or symbols customary to or required for the collection operation.
d. For the purpose of giving effect to the instructions of the principal, the remitting bank will utilize the bank nominated by the principal as the collecting bank. In the absence of such nomination, the remitting bank will utilize any bank of its own, or another bank’s choice in the country of payment or acceptance or in the country where other terms and conditions have to be complied with.
e. The documents and collection instruction may be sent directly by the remitting bank to the collecting bank or through another bank as intermediary.