URC-522

URC 522 ICC Publication 522 Documentary Collections rules.

Définition

URC 522 articles structure : Section A General Provisions + Definitions (Articles 1-3) : Application of URC, Definition of Collection, Parties to a Collection. Section B Form + Structure of Collections (Articles 4-5) : Collection Instructions, Presentation. Section C Form of Presentation (Articles 6-8) : Sight/Acceptance, Release of Commercial Documents, Creation of Documents. Section D Liabilities + Responsibilities (Articles 9-15) : Good Faith + Reasonable Care, Documents vs Goods/Services, Disclaimer Effectiveness of Documents, Disclaimer Transmission, Disclaimer Translations, Force Majeure, Disclaimer Action of Instructed Party. Section E Payment (Articles 16-19) : Payment Without Delay, Payment Local Currency, Payment Foreign Currency, Partial Payments. Section F Interest, Charges + Expenses (Articles 20-21) : Interest, Charges + Expenses. Section G Other Provisions (Articles 22-26) : Acceptance, Promissory Notes + Other Instruments, Protest, Case-of-Need + Power of Attorney, Advices. URC 522 distinguishes : Documentary Collection (commercial + financial documents) vs Clean Collection (financial documents only). Bank role : agent of Principal (not Principal as in L/C), no payment guarantee, exercise reasonable care, follow Collection Instructions strictly. Collection Instructions (Article 4) : essential document specifying handling - sender details, drawee details, amount + currency, documents listed, terms of release (D/P or D/A or other), charges, interest, instructions case-of-non-payment + non-acceptance, presentation period, protest, etc. Goods protection (Article 25) : bank no obligation to protect/insure/store goods.

Origine

URC 322 published 1978 ; URC 522 published 1995 revision URC 322 ; minor revisions 2007 + 2017 ; ~10% global trade finance volume Documentary Collections.

Exemple en contexte

Italian leather supplier ships goods to Korean buyer EUR 75K via D/A 60 days subject URC 522: Italian supplier signs Collection Instructions form with UniCredit (Remitting Bank) specifying D/A 60 days, deliver documents against drawee acceptance, charges for drawee, protest in case non-acceptance ; UniCredit sends to Shinhan Bank Seoul (Collecting Bank) ; Shinhan presents to Korean buyer ; buyer accepts time draft 60 days ; receives documents + clears goods ; Shinhan returns accepted draft to UniCredit ; supplier may discount accepted draft for immediate cash or hold to maturity.

Termes liés

• Documentary Collection spec — instrument governed.