Minimum Checking Points In The Documents Under URC522

Tareq · Post by **Tareq** » Sun Mar 02, 2014 11:55 pm

What are the minimum checking points in the documents under URC 522? Is bill of Exchange mandatory in such type of documents-Specially in the DA document?

picant · Post by **picant** » Mon Mar 03, 2014 12:36 am

Hi Pal,

minimum checking: number of documents and remittance letter list, bill of lading endorsement, insurance endorsement ...,
Bill of exchange necessary in DA, but it is possible to have an undertaking of drawee.
Other comments appreciated
Ciao

Tareq · Post by **Tareq** » Mon Mar 03, 2014 11:50 pm

Thanks Picant for your quick reply. I need a little bit clarification about the below scenerio:
We received a collection document where Trade term mentioned as CIF in the invoice but present no insurance document. Photocopy of B/L is submitted I/O original. Three separate Invoice presented but B/L presents only two. One B/L missing. Now, my question is-Can we proceed with this document ?

picant · Post by **picant** » Tue Mar 04, 2014 12:16 pm

Hi Pal,

ask the remitting bank about the complete documentation.
In the meantime you may contact buyer, your customers I think!, and good luck
Ciao

Minimum Checking Points In The Documents Under URC522

Minimum Checking Points In The Documents Under URC522

remittance letter

Incomplete collection document

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