Collection Instruction

All documents dispatched for gathering must be joined by an accumulation guideline demonstrating that the collection is liable to URC 522 and giving complete and exact directions. Banks are just allowed to follow up on the directions given in such collection guideline, and in agreement with these Rules. Banks will not examine documents in order to obtain instruction.

Collection instruction includes the below informations:

-Bank details from which the collection was received.

-Principal details such as name, postal address, SWIFT Address, Telex, Reference No.

-Drawee details such as-full name, postal address

-Presenting bank details-full name, postal address, Telex, SWIFT, Phone Numbers

-Amount to be collected.

-Document List.

-Terms and conditions of payment or acceptance

-Charges and any interest (if any) to be collected.

-Payment Method

-Instruction in case of non-payment

-Collection instructions must contain the complete address of the drawee.

-it is not collecting bank obligation for any late or delay for any incomplete or incorrect address being provided.   

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