Best Trade Solution

URC 522 - Article 17

Dear experts- can you pls give me an example to differentiate the below underscored statements?

ARTICLE 17 PAYMENT IN LOCAL CURRENCY
In the case of documents payable in the currency of the country of
payment (local currency), the presenting bank must, unless otherwise
instructed in the collection instruction, release the documents to the
drawee against payment in local currency only if such currency is
immediately available for disposal in the manner specified in the collection
instruction.

ARTICLE 18 PAYMENT IN FOREIGN CURRENCY
In the case of documents payable in a currency other than that of the
country of payment (foreign currency), the presenting bank must, unless
otherwise instructed in the collection instruction, release the documents
to the drawee against payment in the designated foreign currency only if
such foreign currency can immediately be remitted in accordance with the
instructions given in the collection instruction.

Hi Pal,

Both articles refer to the freely transferable currency, in other words the buyer and its bank have been authorized in general or in specific to transfer the amount abroad. Sometimes the buyer has proper funds to pay the collection but must wait for governmental authorization to remit proceeds abroad. So even if the amount has already been collected, the documentst may be delivered to the buyer, only if currency transferred.
other comments appreciated-ciao