文档介绍：Chapter 4 Collection
Learning Objects:
Definition
Main parties involved
General procedure
Method of releasing documents
Characteristics
Risks analysis
odation
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URC522
The Bills for Collection process is governed by a set of rules, published by the International Chamber merce (ICC) called "Uniform Rules for Collections" document number 522 (URC522). Over 90% of the world's banks adhere to this document - pick up a copy from the ICC (See contact details below) or your bank and familiarise yourself with the contents.
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The Uniform Rules for Collection (URC 522) is the internationally recognized codification of rules unifying banking practice regarding collection operations for drafts and for documentary collections.
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The URC was developed by the International Chamber merce (ICC) in Paris.
It is revised and updated from time-to-time; the current valid version is ICC publication No. 522.
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1. definition
Collection means in accordance with instructions received, the handling by banks of:
Obtaining payment and/or acceptance of financial documents, or
Delivering documents against payment and/or against acceptance, or
Delivering documents on other terms and conditions.
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Documents
Financial documents:
Documents relating to payment. The bill of exchange is the financial document monly used in collections and L/C. Promissory notes are sometimes used in collections.
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Commercial documents
l Documents relating to the consignment itself, eg.
(1)   Commercial invoice
(2)   Packing list
(3)   Transport document
(4)   Insurance document
(5)   Certificate of origin
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Inward collection
How a Collecting or Presenting bank will refer to a collection.
Collection that has been received from an overseas bank or exporter for presentation to a buyer in this country.
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Outward collection
How the Remitting bank refers to a collection.
Collection being sent overseas to collecting bank(s) for presentation to buyer