Documantry collection & URC522 وصولی های اسنادی

‫وصولی‬‫ها‬
Collections & URC522
‫پارسیان‬ ‫بانک‬ ‫آموزش‬ ‫اداره‬

❑‫ریسک‬‫و‬‫شناخت‬‫مشتریان‬
❑‫تشریح‬‫روش‬‫های‬‫پرداخت‬
❑‫وصولی‬‫ها‬
❑‫طرفین‬‫درگیر‬
❑‫دستور‬‫کار‬
❑‫تعاریف‬‫و‬‫اصطالحات‬URC
❑‫شرح‬‫و‬‫شکل‬‫وصولی‬‫و‬‫برات‬
❑‫تنور‬‫و‬‫نمونه‬‫ها‬.
❑‫بررسی‬‫و‬‫ارائه‬‫یک‬‫نمونه‬‫برات‬
‫سرفصل‬‫مطالب‬
‫مدرس‬:‫ابوذر‬‫نجمی‬

‫تجارت‬‫خارجی‬/‫تجارت‬‫بین‬‫الملل‬
Foreign Trade/International Trade
Foreign trade or International trade is the exchange of capital, goods, and services across
international or Inter-Regional borders or territories, which could involve the activities of the
government and individual. It consists of imports, exports.

‫تفاوت‬‫های‬‫تجارت‬‫داخلی‬‫و‬‫خارجی‬

‫انواع‬‫ریسک‬‫در‬‫تجارت‬‫بین‬‫الملل‬

Trade Finance
◻ Trade finance relates to the process of financing certain activities related to
commerce and international trade. Trade finance includes such activities as lending,
issuing letters of credit, factoring, export credit and insurance. Companies involved
with trade finance include importers and exporters, banks and financiers, insurers
and export credit agencies, and other service providers.
Banking Service & Product
◻ L/C
◻ Bank Guarantee
◻ Collection
◻ Discounting of Bills
◻…

‫طرفین‬‫اصلی‬‫در‬‫تجارت‬‫خارجی‬
Key Player in International Trade
Seller (Exporter): The seller of such goods and services is referred to as an "exporter"
and is based in the country of export whereas the overseas based buyer is referred to as
an "importer". In international trade, "exports" refers to selling goods and services
produced in the home country to other markets.
Buyer (Importer): Buyer For customs purposes, the party who makes (or on whose
behalf an agent or broker makes) the import declaration, and who is liable for the
payment of duties (if any) on the imported goods. Normally, this party is named either as
the consignee in the shipping documents and/or as the buyer in the exporter's invoice.
Commercial bank: Trade finance signifies financing for trade, and it concerns both
domestic and international trade transactions. A trade transaction requires a seller of
goods and services as well as a buyer. Various intermediaries such
as banks and financial institutions can facilitate these transactions by financing the trade.
In Collection method: 1- Remitting bank, 2- Collecting bank
In letter of Credit: 1-Issuing bank, 2- Advising bank, 3- Negotiating bank

‫طرفین‬‫اصلی‬‫در‬‫تجارت‬‫خارجی‬
Key Player in International Trade

‫روش‬‫های‬‫حمل‬
❑‫دریایی‬
❑‫زمینی‬
❑‫هوایی‬
❑‫مرکب‬

‫روش‬‫های‬‫پرداخت‬‫در‬‫تجارت‬‫بین‬‫الملل‬
Payment Method in International Trade
◻Cash Advanced ‫پیش‬‫پرداخت‬
◻Open Account ‫حساب‬‫باز‬
◻Collection ‫وصولی‬
◻Letter of credit ‫اعتبار‬‫اسنادی‬

‫توزیع‬‫ریسک‬‫پرداخت‬‫در‬‫تجارت‬‫بین‬‫الملل‬
Distribution of Risk in International Trade
Seller / Exporter Buyer / Importer
High Risk Low Risk
Relies completely on
buyer to pay as
previously agreed
Open Account No Risk
Relies on buyer to pay
draft on presentation of
documents or at
maturity
Documentary
Collections
Relies on seller to ship goods as
described in the documents
Risk of own non-
performance in
adhering to all
requirements in the L/C
Letters of Credit Relies on seller to ship goods as
described in the L/C and by when,
also stated in the L/C
No Risk – Unless buyer
requests an advance
payment guarantee /
SBLC
Payment in
Advance
Relies completely on seller to ship
goods as ordered

‫نمای‬‫توزیع‬‫ریسک‬‫در‬‫پرداخت‬‫های‬‫بین‬‫المللی‬

‫انواع‬‫اسناد‬
Documents
◻Commercial Documents ‫اسناد‬‫تجاری‬
◻Shipping/Transportation Documents ‫اسناد‬‫حمل‬
◻Financial Documents ‫اسناد‬‫مالی‬
◻Insurance ‫بیمه‬

‫اسناد‬‫تجاری‬
Commercial Documents
◻Commercial Invoice
An invoice is a commercial document that itemizes a transaction
between a buyer and a seller. If goods or services were purchased
on credit, the invoice usually specifies the terms of the deal, and
provide information on the available methods of payment. An
invoice is also known as a bill or sales invoice.
◻Certificate of Origin
◻Packing List

‫اسناد‬‫حمل‬
Shipping/Transportation Documents
◻Bill of Lading
◻Air Waybill
◻Truck bill of lading
A bill of lading is a document from a shipper of goods that describes
the goods being shipped and notes the quantity. It resembles a
standard store receipt. The bill of lading serves as a receipt when
the goods being shipped arrive at their destination. The destination
of the goods is also noted on the bill of lading. A bill of lading is
evidence of shipment, proof of receipt of the goods by the carrier
from the company or individual providing the goods for shipment.

‫اسناد‬‫مالی‬
Financial Documents
◻Bill of Exchange / Draft
A bill of exchange is a document used in international shipping, a negotiable instrument
that is created by the seller or exporter and given to the buyer or importer. It legally
binds the buyer to pay an agreed-upon sum of money to the seller on a specified
date, often upon receipt of goods or on a specific day following the receipt of goods
(for example, 10 days after receipt of goods).
Bills of exchange are similar to checks in that they can be drawn on banks and can be
transferred through endorsement of the bill of exchange. When a bill of exchange is
issued by a bank, it is referred to as a bank draft; if issued by an individual, it is
commonly referred to as a trade draft. A bill of exchange details the goods shipped to
the buyer, the invoice amount for payment, the date payment is due and bank
details, since the buyer usually makes payment from his bank to the seller's bank.

‫بیمه‬‫نامه‬
Insurance
◻Insurance
Insurance is a contract, represented by a policy, in which an individual or entity receives
financial protection or reimbursement against losses from an insurance company.
The company pools clients' risks to make payments more affordable for the insured.

Documentary Collection
➢A documentary collection is a trade
transaction in which the exporter
hands over the task of collecting
payment for goods supplied to his or
her bank, which sends the shipping
documents to the importer's bank
together with payment instructions.
➢Uniform Rules for Collections (URC)
By ICC, current version No. 522

Collections vs. Cash
◻Differences from cash on delivery:
◻a) money collected by bank instead of an
individual, shipping company or postal
service
◻b) cash on delivery for a title document
instead of goods

Collections vs. L/C
➢ lower charges
➢ easier procedure
➢ BUT bank is only collector not surety
➢ Same preparation of documents and presentation to
the bank
➢ BUT draft not by seller but rather buyer itself
➢ Seller´s bank no obligation to pay upon presentation
➢ Seller´s bank acts as collecting or remitting bank on
behalf of seller (comission)

‫طرفین‬‫اصلی‬‫در‬‫وصولی‬
Key Player in Collection
➢The principal (seller/exporter/drawer)
Sometimes also remitter
➢The remitting bank (principal/ seller/ exporter)
➢The collecting or presenting (buyer) bank
➢The drawee (buyer/importer)

‫طرفین‬‫اصلی‬‫در‬‫وصولی‬
Key Player in Collection

Collection Procedure
◻step-by-step exchange of
documents giving title to goods for
either cash or a contracted promise
to pay at a later time

1. Agreement
The buyer and seller agree on the terms of
sale of goods:
➢specifying a documentary collection as the
means of payment,
➢naming a collecting/presenting bank (usually
the buyer's bank),
➢listing required documents

2. Shipping goods
◻The seller (principal) ships the goods to the
buyer (drawee) and obtains a negotiable
transport document (bill of lading) from
the shipping firm/agent.

3. Submitting documents to remitting bank
The seller (principal) prepares and presents
(remits) a document package to his bank (the
remitting bank) consisting of:
➢ a collection order specifying the terms and conditions
under which the bank is to hand over documents to the
buyer and receive payment,
➢ the negotiable transport document (bill of lading), and
➢ other documents (e.g., insurance document, certificate
of origin, inspection certificate, etc.) as required by the
buyer.

3. Submitting documents to remitting bank

4. Sending documents to collecting bank
The remitting bank sends the documentation package by
mail or by courier to the designated collecting/presenting
bank in the buyer's country with instructions to present
them to the drawee (buyer) and collect payment.
The remitting bank may find it necessary or desirable to
use an intermediary bank (correspondent bank) rather
than sending the collection order and documents directly
to the collecting bank. For example, the collecting bank
may be very small or may not have an established
relationship with the remitting bank.

4. Sending documents to collecting bank

5. Advising instruction
The presenting (collecting) bank :
◻reviews the documents making certain they
are in conformity with the collection order,
◻notifies the buyer (drawee) about the terms
and conditions of the collection order, and
◻releases the documents once the payment
conditions have been met.

6. Fulfilling collection obligation
The buyer (drawee):
◻makes a cash payment (signing the draft), or if
the collection order allows, signs an
acceptance (promise to pay at a future date)
and
◻ receives the documents and takes possession
of the shipment

6. Fulfilling collection obligation

7. Forwarding collection proceeds
◻6. The collecting bank pays the remitting
bank either with an immediate payment
or, at the maturity date of the accepted
bill of exchange.

7. Forwarding collection proceeds

8. Crediting seller
The remitting bank then pays the seller
(principal).

Type of Collection
◻ Clean collection means
the collection business
of financial documents
without any commercial
documents
◻ Clean collection means
the collection business
of financial documents
with commercial
documents
Clean Collection
‫وصولی‬‫ساده‬
Documentary Collection
‫وصولی‬‫اسنادی‬

3 Type of Documentary Collection
1) DOCUMENTS AGAINST PAYMENT (D/P)
2) DOCUMENTS AGAINST ACCEPTANCE
(D/A)
3) ACCEPTANCE DOCUMENTS AGAINST
PAYMENT

1. DOCUMENTS AGAINST PAYMENT (D/P)
DOCUMENTS AGAINST PAYMENT greatest
security to the seller
◻collecting bank releases the documents to the
buyer only upon full and immediate cash
payment in freely available funds (resembles
cash-on-delivery transaction)

2. DOCUMENTS AGAINST ACCEPTANCE (D/A)
DOCUMENTS AGAINST ACCEPTANCE
◻collecting bank is permitted to release the documents to the buyer
against:
◻ acceptance (signing) of a bill of exchange or
◻ signing of a time draft at the bank promising to pay at a later date
(usually 30, 60 or 90 days).
◻The completed draft is held by the collecting bank and presented to
the buyer for payment at maturity, after which the collecting bank
sends the funds to the remitting bank, which in turn sends them to the
principal/seller.
◻seller gives up title to the shipment in exchange for the signed bill of
exchange that now represents his only security in the transaction

3. ACCEPTANCE DOCUMENTS AGAINST PAYMENT
ACCEPTANCE DOCUMENTS AGAINST PAYMENT
➢ the collecting bank presents a bill of exchange to the buyer for
acceptance,
➢ the accepted bill of exchange remains at the collecting bank
together with the documents up to maturity,
➢ the buyer pays the bill of exchange at maturity,
➢ the collecting bank releases the documents to the buyer who takes
possession of the shipment, and
➢the collecting bank sends the funds to the remitting bank, which
then in turn sends them to the seller.
➢This gives the buyer time to pay for the shipment but gives the seller
security that title to the shipment will not be handed over until
payment has been made. If the buyer refuses acceptance of the bill
of exchange or does not honor payment at maturity, the seller makes
other arrangements to sell his goods.

Payment notes
◻If the buyer draws (takes possession of)
the documents against acceptance of a
bill of exchange, the collecting bank sends
the acceptance back to the remitting
bank or retains it on a fiduciary basis up to
maturity. On maturity, the collecting bank
collects the bill and transfers the proceeds
to the remitting bank for crediting to the
seller.

Monitoring and Control of the Collection Process:
General
➢ Delay on the part of one or more parties to a collection
➢ Lack of inadequate instruction
➢ Instructions that cannot or may not be followed
➢ Incorrect documentation
➢ A basic misunderstanding between seller and buyer
➢ Government regulations and laws affecting the
movement of doods and money
➢ Lack of good faith or reasonable care on the part of one
or more of he parties
➢ fraud

Exporter
➢ Knowing the whereabouts of the underlying goods
➢ Chasing for payment or acceptance of the collection
➢ Responsibility for monitoring and control procedure
within the exporter’s organization

Remitting Bank
➢ The regular Steps
1. Know the customer
2. Ensure that the appropriate mandates, the specimen
signature and an acknowledgment by the exporter of
the bank’s standard terms and condition are held
3. Ensure that appropriate correspondent banking
relationship and means of communication are available
4. Decide whether to agree to take the collection from the
export customer

Remitting Bank
➢ Stamp covering letter
➢ Register the receipt of the collection
➢ Check export customer
➢ Specimen signature and appropriate customer
documentation
➢ Export licensing and exchange control requirement
➢ Adequacy and completeness of customer’s instructions
➢ Verify documents listed
➢ Choosing a collecting bank

Remitting Bank
➢ Prepare collection instruction
➢ Accounting record
➢ Diarising the bill record for monitoring purposes
➢ Chasing for acknowledgment
➢ Scrutiny of acknowledgement
➢ Review of all export collection bills

Collecting Bank
➢ The decision to handle the transaction (Yes / No)?
➢ Practice used to monitor collections
1. Dating and time stamping the collection instruction
2. Verifying that the documents listed have been received
3. Examining the collection instruction
4. Preparation of inward collection schedule
5. The inward bill collection bill record
6. Acknowledgement
7. Advice to the importer or receipt of collection
8. Accounting record
9. Diarising the collection forward to indicate a date to take action

Collecting Bank
➢ Advice
1. Advice of payment
2. Advice of acceptance
3. Advice of non-payment or non-acceptance
4. Noting and protesting (Advice willing or not)
5. Protect of goods (Advice willing or not)

Importer
➢ Ascertaining the whereabouts of the underlying goods
➢ Responsibility for monitoring and control
➢ The presentation of the collection
➢ Honorable dealing

Delivery of documents
➢ Financial Documents
1. Part payment
2. Payment in local currency or another type
3. Discharge of the paid bill of exchange
➢ Commercial documents
1. Deliver against payment (D/P)
2. Deliver against acceptance (D/A)
3. Deliver against on other type of terms and conditions
4. (ie. Trust receipt)

The Collection Order
➢the key document prepared by the seller
specifying the terms and conditions of the
documentary collection.
➢ great care and precision - banks only act
upon the instructions given in the order (no
past transactions or verbal
understandings)

The Collection Order
◻ 1. The payment period as agreed with the buyer
◻ 2. The name and address of the buyer
◻ 3. The buyer's bank
◻ 4. Instructions, if any, about what to do with the
accepted bill of exchange
◻ 5. Notation concerning payment of charges for the
documentary collection
◻ 6. Notation/instructions for the lodging of a protest in the
event of nonacceptance or nonpayment
◻ 7. Instructions for notification of agent or representative
in the buyer's country

Dishonour of Collection Bills
➢ Time for presentation, acceptance or payment
(reasonable time without delay)
➢ Dishonour
1. by non-acceptance
2. by non-payment
➢ Notice of dishonour
➢ Dispatch of advice
➢ Noting and protesting
Bank must act in good faith and with reasonable care, all bank (the
remitting, collecting and presenting bank) must transmit relevant
information regarding the collection as quickly as possible.

Bank finance for collection bills
for Exporter
➢ Bank advances against export collection bills
➢ Pledge of export collections
➢ Advances against specific bills (x)
➢ Credit worthiness of buyer
➢ Bank advances against export collection bills with insurance (Export
guarantee fund of Iran)
➢ Bank advances against export collection bills avalised or
guaranteed by the importer’s bank

Bank finance for collection bills
for Importer
➢ Pledge of import collections
➢ Pledge of goods stored in warehouse
➢ Pledge of documents of title of goods
➢ Delivery of goods against trust receipt
➢ Import bank avalising the importer’s acceptance

General notes and Cautions
◻ D/A - buyer may refuse to accept the draft = seller is in the same
position as in D/P terms where the buyer refuses to pay the draft.
◻ D/A - buyer may accept (sign) the draft, take possession of the
goods, but then refuse to pay the draft at maturity = seller has
neither payment nor the goods, he may try to enforce the buyer's
obligation to pay the draft through banking channels or legal action,
both of which involve additional costs.
◻ Banks have no obligation to authenticate documents, it is possible
that the seller will send a short shipment, the incorrect goods, or
inferior goods. The only recourse - direct contact with the seller or
legal action.

General notes and Cautions
◻ The banks involved do not guarantee payment or assume any credit risk (only
intermediaries)
◻ If the shipper/seller sends goods directly to the buyer's address, the shipment will be
handed over without the buyer first making payment. The seller, therefore, will usually
address the shipment to his agent in the buyer's country or to the collecting bank if it
is known to him and prior agreement has been obtained to do so.
◻ Goods are transported, stored, and insured at the expense and risk of the seller until
payment or acceptance occurs. No responsibility of banks.
◻ additional safeguard over open-account transactions. Draft duly presented and
accepted through a bank in the buyer's country, is an acknowledged evidence of
debt. However, this may not be of great value against a purchaser who is determined
not to pay.
◻ D/P - buyer may refuse to pay = seller maintains title to the shipment, may negotiate
new terms with the buyer, locate another buyer, or have the goods returned,
incurring the cost of shipping, insurance, and bank fees. If the goods are perishable,
the seller may be in a difficult position to find a new buyer quickly.

Transaction documents
◻ Similar to those in a documentary letter of credit
transaction.
◻ In the original agreement between buyer and seller the
buyer specifies documents that
◻ (1) make it possible to secure the shipment from the
shipping company (bill of lading),
◻ (2) secure release from the customs authority
(certificates of origin, commercial invoice, etc.), and
◻ (3) offer some guarantee of quality and count (inspection
certificates).

Bank Principles
➢ certain problems out of banks, control or responsibility:
➢ Seller's instructions left out of the collection order by mistake or omitted because
"we've always done it that way" don't count. The principal should take great care in
preparing the collection order so that it gives complete and clear instructions.
➢ Banks are required to act in good faith and exercise reasonable care to verify that
the documents submitted APPEAR to be as listed in the collection order. They are,
however, under no obligation to confirm the authenticity of the documents
submitted.
➢ Banks are not liable nor can they be held accountable for the acts of third parties (
e.g. freight forwarders, forwarding agents, customs authorities, insurance companies
and other banks). Specifically, they are not responsible for delays or consequences
resulting from Acts of God (floods, earthquakes, etc.), riots, wars, civil commotions,
strikes, lockouts, or other causes beyond their control.
➢ Banks also assume no liability or responsibility for loss arising out of delays or loss in
transit of messages, letters, documents, etc.
➢ Banks assume no responsibility regarding the quantity or quality of goods shipped.
They are only concerned that documents presented appear on their face to be
consistent with the instructions in the collection order. Any dispute as to quality or
quantity of goods delivered must be settled between the buyer and the seller.

Banks
◻ Without explicit instructions, the collecting bank
takes no steps to store or insure the goods. This,
of course, can be a problem for both the seller
and the buyer. If the seller has not received
payment he still has ownership and an insurable
interest in the goods.
◻ If a collection remains unpaid or a bill of
exchange is not accepted and the collecting
bank receives no new instructions within 90
days, it may return the documents to the bank
from which it received the collection order.

Tips for Sellers
◻ A seller should only agree to a documentary collection payment if
▪ The seller does not doubt the buyer's ability and willingness to pay for the goods;
▪ The buyer's country is politically, economically, and legally stable;
▪ There are no foreign exchange restrictions in the buyer's country, or all licenses for
foreign exchange have already been obtained; and
▪ The shipped goods are easily remarkable.
◻ The seller should check on the buyer's credit worthiness and reputation before
consenting to a documentary collection, especially D/A terms.
◻ The seller should find out from the buyer what documents are required for
customs clearance in the buyer's country. The seller should then assemble the
documents carefully and make sure they are in the required form and endorsed or
authenticated as necessary.
◻ If the buyer does not get the required documents he may refuse the collection
altogether, or in D/A terms he may unknowingly sign the acceptance and then
find that he cannot clear the goods through customs. Although he is legally
responsible for payment, he may be unable to pay because he never received the
goods. Either leaves the seller in a compromised situation.
◻ As a rule, the remitting (seller's) bank will not review the documents before
forwarding them to the presenting/collecting (buyer's) bank. Review of the
documentation is the primary responsibility of the buyer.

Sellers
◻ Because goods may be refused, the seller should only ship goods
that are readily marketable to other buyers.
◻ Risks to the seller center around the fact that payment is not
made until after the goods are shipped.
◻ The seller assumes liability for shipping, insurance, and storage
while the goods are in transit and before payment is made. If the
buyer does not pay the draft the seller is still responsible for these
costs.
◻ If the buyer refuses payment (in D/P terms) or acceptance (in D/A
terms) the seller retains ownership of the shipment. The seller
may have the goods shipped back or try to sell them to another
buyer. If the buyer takes no action, customs may seize the goods
and auction or otherwise dispose of them.
◻ In D/A terms if the buyer signs the acceptance, takes possession
of the goods, and then refuses to pay the bill of exchange at
maturity the seller has given up title to the shipment and the only
recourse is to the buyer, not the banks.

Tips for Buyers
◻ A buyer should only agree to documentary collection payment terms if there is
trust that the seller will ship the goods as specified in accordance with the
agreement between buyer and seller.
◻ The buyer should be aware of any documentation, certifications, or authorizations
that may be required for customs clearance or for eventual sale of the goods in
his own country.
◻ The buyer should specify all documentation required of the seller in his agreement
with the seller.
◻ Upon presentation by the presenting bank the buyer must carefully inspect the
documents to make certain they meet all specifications for customs clearance
and for eventual sale of the goods in his own country.
◻ As a special favor, the collecting bank may allow the buyer to take temporary
possession of the documents for inspection before payment. The collecting bank,
however, assumes responsibility for the documents until redemption.
◻ In the above case, the buyer should immediately return the entire set of
documents to the collecting bank if he is unwilling or unable to meet the agreed
upon payment procedure.

Buyers
◻ In a documentary collection the buyer is generally in a secure position
because ownership or responsibility for goods does not have to be
assumed until documents have been paid for or a time draft signed.
◻ The buyer may not sample or inspect the goods before accepting and
paying for the documents unless authorized to do so by the seller. The
buyer may, however, specify a certificate of inspection from a reliable
third party as part of the required documentation package.
◻ Unless bound by a separate contract, the buyer assumes no liability for
goods if he refuses to take possession of the documents.
◻ Partial payment in exchange for the documents is not allowed unless
specifically authorized in the seller's collection order.
◻ With D/A terms, the buyer may receive the goods and resell them for
profit before the time draft matures, thereby using the proceeds of the
sale to pay for the goods. The buyer is responsible for payment,
however, even if the goods cannot be sold.
◻ The main risk for buyers is that goods shipped might not conform to the
goods specified. Because banks deal only in documents and not in
goods, the buyer's only recourse is with the seller.

Tips for Banks
➢ Documents sent for collection must be accompanied by a collection
order giving the principal's complete and precise instructions.
➢ Banks are only permitted to act upon the specific instructions given by
the principal in the collection order.
➢ If a remitting, collecting, or presenting bank cannot comply with the
instructions in the principal's collection order, it must immediately advise
the party from whom it received the order.
➢ Banks have the responsibility to verify that documents received with a
collection order appear on their face to be as specified in the collection
order, but do not have the responsibility to authenticate individual
documents.
➢ If it appears that documents are missing from the document package
(as determined by those listed in the collection order) the bank must
immediately notify the party from whom the documents were received.
➢ If the principal names a specific collecting bank the remitting bank is to
use such bank as the collecting bank.
➢ If the principal does not name a collecting bank the remitting bank is
free to make its own choice as to the collecting bank in the country of
payment.

Banks
◻ Collection documents may be sent directly to the collecting/presenting
bank or through an intermediary bank called a correspondent bank.
◻ The drawee is to be presented the documents in the form in which they
were received from the principal. However, the remitting and collecting
banks may affix stamps or rubber stamps, make endorsements, or
attach a cover letter to the document package.
◻ If an incomplete or incorrect address of the drawee is shown on the
collection order, the collecting bank may, without obligation or
responsibility, attempt to find the correct address.
◻ The banks must make presentation of documents without delay.
◻ If the documents call for payment in a specific currency, the banks must,
unless otherwise instructed, collect payment for documents in that
currency.
◻ The collecting bank may not accept partial payments from the drawee
unless otherwise instructed in the collection order.
◻ If a collection remains unpaid or a bill of exchange is not accepted and
the collecting bank receives no new instructions within 90 days, it may
return the documents to the bank from which it received the collection
order.

Documantry collection & URC522 وصولی های اسنادی

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