regarding collection charges

ejazahmed · Post by **ejazahmed** » Sat Apr 16, 2011 10:14 am

who will be pay or bear drawee bank charges as per urc 522

picant · Post by **picant** » Thu Apr 21, 2011 6:40 am

Hi Pal,

Normally in the collection letter it is specified who must pay charges and fees, indicating if these cost could be waived or not.
The remitting bank and its principal are responsible to refund the collecting bank for the costs incurred in case it wuold not be possible to charge the drawee.
Spefic forms have been stipulated by Bankers Associations to cover any requirements.
Ciao

nesarul · Post by **nesarul** » Sun Aug 14, 2011 10:23 am

Dear,
sub-article 21 will cover the issue out and out.
regards
nesar

sandeep4689 · Post by **sandeep4689** » Sat Nov 05, 2011 9:24 pm

Dear Ahmed,

as per URC522 article 12(a) the Remitting bank schedule they specifically mention that "our charges are for the account of Drawee" which they mentioned "May/Must not be waived" in that cases we have to debit our customer account otherwise we have to debit in proceedings from the Remitting Bank.

Regards,
Sandeep