Article 05

Presentation

a.    For the purposes of these articles, presentation is the procedure whereby the presenting bank makes the documents available to the drawee as instructed.


b.    The collection instruction should state the exact period of time within which any action is to be taken by the drawee.


Expressions such as ‘first’, ‘prompt’, ‘immediate’, and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee. If such terms are used banks will disregard them.

c.    Documents are to be presented to the drawee in the form in which they are received, except that banks are authorized to affix any necessary stamps, at the expense of the party from whom they received the collection unless otherwise instructed, and to make any necessary endorsements or place any rubber stamps or other identifying marks or symbols customary to or required for the collection operation.


d.    For the purpose of giving effect to the instructions of the principal, the remitting bank will utilise the bank nominated by the principal as the collecting bank. In the absence of such nomination, the remitting bank will utilize any bank of its own, or another bank’s choice in the country of payment or acceptance or in the country where other terms and conditions have to be complied with.


e.     The documents and collection instruction may be sent directly by the remitting bank to the collecting bank or through another bank as intermediary. f If the remitting bank does not nominate a specific presenting bank, the collecting bank may utilise a presenting of its choice.