Home » Application of URR 725

Application of URR 725

The Uniform Rules, ICC Publication No. 725, should apply to any bank-to-bank repayment when the content of the repayment approval explicitly demonstrates that it is liable to these standards. They are official on all gatherings thereto, unless explicitly altered or prohibited by the repayment approval. The issuing bank is in charge of showing in the narrative (“credit”) that repayment is liable to these tenets. In a bank-to-bank repayment subject to these tenets, the repaying bank follows up on the directions and under the specialist of the issuing bank. These guidelines are not expected to supersede or change the arrangements of the Uniform Customs and Practice for Documentary Credits.

RSS
Facebook
Twitter
YouTube
Pinterest
LinkedIn
Instagram