URC 522 1 B and C

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin; besttradesolution.com
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NURSENCE
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URC 522 1 B and C

by NURSENCE » Tue Oct 01, 2013 4:49 pm

Can a collecting bank accept to handle the documents but at the same time refuse to protest the bill in case of non payment or acceptance according to URC 522 1 B and C despite remitting bank instruction.

veyilmuthu1988
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Re: URC 522 1 B and C

by veyilmuthu1988 » Sun Dec 03, 2017 5:18 pm

Hi,

Yes, they can refuse to follow protest instruction and the same has to be communicated to Remitting bank without any delay

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