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The eURC supplements the Uniform Rules for Collections (1995 Revision, ICC Publication No. 522) (“URC”) in order to accommodate presentation of electronic records alone or in combination with paper documents.
Uniform Rules for Collections No. 522 1995 Revision in force as of January 1, 1996 Leaflet Version, ICC No.522LF The ICC Uniform rules for collections were first published by the ICC in 1956. Revised versions were issued in 1967 and 1978. This present revision was adopted by the Council o...
Article 4 - COLLECTION INSTRUCTION A) 1) All documents sent for collection must be accompanied by a collection instruction indicating that the collection is subject to URC 522 and giving complete and precise instructions.
29 cze 2023 · The eURC is regarded as the necessary addition to the URC 522 in a digital form. It avoids lots of the struggles involving classic paper documents, allows a quicker and safer way to run trade finance operations. We also invite you to download the practical guide to the eUCP which highlights how to concretely use them in your daily business.
Collections (URC 522) Supplement for Electronic Presentation (“eURC”) where a prior arrangement exists between the remitting bank and the collecting or presenting bank, for the presentation of electronic records alone or in combination with
26 paź 2018 · 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. URC 522 makes it very clear that banks will not examine documents, particularly not to look for instructions.
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.
