Article 26

Advises

Collecting banks are to advise fate in accordance with the following rules:


a.     Form of Advice

All advises or information from the collecting bank to the bank from which the collection instruction was received, must bear appropriate details including, in all cases, the latter bank’s reference as stated in the collection instruction.

b.     Method of Advice

It shall be the responsibility of the remitting bank to instruct the collecting bank regarding the method by which the advises detailed in c (1.), c (2.) and c (3.) are to be given.

In the absence of such instructions, the collecting bank will send the relative advises by the method of its choice at the expense of the bank from which the collection instruction was received.


c1.   Advice of Payment

The collecting bank must send without delay advice of payment to the bank from which the collection instruction was received, detailing the amount or amounts collected, charges and/or disbursements and/or expenses deducted, where appropriate, and method of disposal of the funds.

  2.   Advice of Acceptance

The collecting bank must send without delay advice of acceptance to the bank from which the collection instruction was received.

  3.   Advice of Non-payment and/or Non-Acceptance

The presenting bank should endeavour to ascertain the reasons for non-payment and/or non-acceptance and advise accordingly, without delay, the bank from which it received the collection instruction.

The presenting bank must send without delay advice of non-payment and/or advice of non- acceptance to the bank from which it received the collection instruction.

On receipt of such advice the remitting bank must give appropriate instruction as to the further handling of the documents.

If such instructions are not received by the presenting bank within 60 days after its advice of non-payment and/or non-acceptance, the documents may be returned to the bank from which the collection instruction was received without any further responsibility on the part of the presenting bank.