Article 04

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. Banks are only permitted to act upon the instructions given in such collection instruction, and in accordance with these Rules.

    2.    Banks will not examine documents in order to obtain instructions.

    3.    Unless otherwise authorised in the collection instruction, banks will disregard any instructions from any party/bank other than the party/bank from whom they received the collection.

b.      A collection instruction should contain the following items of information as appropriate.
1.    Details of the bank from which the collection was received including full name, postal and SWIFT addresses, telex, facsimile numbers and reference.

2.    Details of the principal including full name, postal address, and if applicable telex, telephone and facsimile numbers.

3.    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.
 

        4.    Details of the presenting bank, if any, including full name, postal address, and if applicable telex, telephone and facsimile numbers.

        5.    Amount(s) and currency(ies) to be collected

        6.    List of documents enclosed and the numerical count of each document.

        7. 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) others 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.

        8.    Charges to be collected, indicating whether they may be waived or not.

        9.    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 a year) as applicable

        10.   Method of payment and form of payment advice.

        11.    Instructions in case of non-payment, non-acceptance and/or non-compliance with other instructions.

c 1.     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 as certain the proper address.

   2. The collecting bank will not be liable or responsible for any ensuing delay as a result of an incomplete/incorrect address being provided.