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算授課教師：XXXInternationalSettlementCatalogue01Introduction02NegotiableInstrument03Remittance04CollectionCatalogue05LetterofCredit06StandbyLetterofCredit07LetterofGuarantee08InternationalFactoring Catalogue09Forfaiting10DocumentsinInternationalSettlement11ExaminationofDocumentsCatalogue12FinancinginInternationalSettlement13RisksinInternationalSettlementChapter4Collection4.1

AnOverviewofCollection4.1.1

DefinitionofCollection

Collectionisakindofpaymentmethodininternationalsettlement.Itmeanswhentheexporter(orthecreditor)hasshippedtheorderedgoodsorprovidedtheregulatedservices,hewillsubmitfinancialdocumentsorcommercialdocumentsorboth,

whichevidencesthefulfillmentofthecontractobligationandclaimthereto,tohisbank,requesthisbanktoentrusttheimporter’sbank(normallytheexporterbank’scorrespondentbank)topresentthedocumentstotheimporter(orthedebtor),andtocollectmoneyforgoodsorservicesfromtheimporter.4.1.1

DefinitionofCollection

Inthedefinition,“documents”meansfinancialdocumentsand/orcommercialdocuments.“Financialdocuments”meansbillsofexchange,promissorynotes,cheques,orothersimilarinstrumentsusedforobtainingthepayment.“Commercialdocuments”meansinvoices,transportdocuments,documentsoftitleorothersimilardocuments,oranyotherdocumentswhatsoever,notbeingfinancialdocuments.4.1.1

DefinitionofCollection

Collectionisareverseremittance.Thefundsfloatfromtheimportertotheexporter;whiletheinstrumentsaretransmittedfromtheexportertotheimporter.Collectionisbasedoncommercialcredit.Theimporterisusuallyabusinessmanoracompanyoracorporation.Whenthecollectingbankpresentsdocumentstotheimporter,whethertheimporterwillpayforgoodsorservicedependsonhimself.4.1.1

DefinitionofCollection

Therearefourbasictermsofpaymentusedininternationaltrade.Theyarecashinadvance,openaccount,documentarycollection,anddocumentary(letterof)credit.Undercashinadvance,theimporterpaystheexporterbeforedeliveryofgoodsbytheexporter,andtheimporterextendscredittotheexporterandbearstheriskofexporter’snon-delivery.4.1.2

ComparisonwithOtherTermsofPayment

Underopenaccount,theexportershipsthegoodsandsendstheshippingdocumentsdirectlytotheimporter,andtheimporterwillsettlethedebtsatadefinitefuturetime.Theexporterwillbeartheriskofimporter’snon-payment.Cashinadvanceisinfavoroftheexporterandopenaccountisinfavoroftheimporter.Neitherundercashinadvancenorunderopenaccount,theimporterandexporter’srightsandobligationsareequal.4.1.2

ComparisonwithOtherTermsofPayment

Whencomparedwithdocumentaryletterofcredit,thehandlingproceduresundercollectionaremuchthesameasforthedocumentarycredit.However,therearestilltwomajordifferences:(1)thedraftinvolvedundercollectionisnotdrawnonthebankforpaymentundercollection,butratherontheimporteritself;(2)theseller’bankhasnoobligationtopayuponpresentationbutonlyactasanagentbankonbehalfofthesellerundercollection,thusearningcommissionsfortheservicesprovided.Fromtheperspectiveoftheimporter,adocumentarycollectionfallsbetweenopenaccountanddocumentarycredit.4.1.2

ComparisonwithOtherTermsofPayment4.2

PartiestoCollection4.2.1

Principal

Itisapartythatentruststhebanktohandlecollectionbusiness.Hehandscommercialdocumentsorfinancialinstrumentsorbothtothebank,instructingtheremittingbanktocollectmoneyforgoodsorserviceforhim.Ininternationalbusiness,theexporter,seller,drawer,consignororpayeeundercollectionmaybetheprincipal.

Theliabilitiesoftheprincipalinclude:first,delivergoodsstipulatedinthecontract;second,submitdocumentscomplyingwithcontract;third,fillintheapplicationformforcollection,etc.4.2.1

Principal

Itisabankthattheprincipalhasentrustedtohandlecollectionbusiness.Itisusuallylocatedintheexporter’scountry.

Theliabilitiesoftheremittingbankinclude:first,createcollectioninstructionaccordingtotheapplicationformsubmittedbytheprincipal;second,examinedocumentsandsendthemtothecollectingbank,etc.4.2.2

RemittingBank

Itisanimporter’sbankwhichacceptstheremittingbank’sinstructionsandisinvolvedinthecollectionprocess.Itreceivescommercialdocumentsand/orfinancialdocumentsfromtheremittingbank,andfollowscollectioninstructiontoobtainpaymentfromthedrawee.4.2.3

CollectingBank

Theliabilitiesofthecollectingbankinclude:first,executetheremittingbank’scollectioninstruction;second,examinedocumentsanddeliverthemtotheimporteragainstpaymentand/oragainstacceptanceand/oronothertermsandconditions.Uponreceiptofthecollectioninstructionandaccompanieddocumentsfromtheremittingbank,thecollectingbankshouldexaminethemwithreasonablecare.Whenfindinganyinconsistenceamongthem,itshouldnotifytheremittingbankwithoutdelay.Thecollectingbankshouldcollectproceedsstrictlyaccordingtotheinstructionsoftheremittingbank.4.2.3

CollectingBank

Itisabankthatmakesthepresentationtothedrawee.Normally,ithastheaccountingrelationshipwiththedrawee.Uponreceiptofdocumentsfromthecollectingbank,itpresentsthemtothedrawee.Ifthedraweedoesnotnominatethepresentingbank,thecollectingbankisalsothepresentingbank.4.2.4

PresentingBank

Thepresentingbankisresponsibleforconfirmingthattheacceptedbillappearstobecompleteandcorrect,butisnotresponsiblefortheauthenticityofthesignatureorfortheauthorityofthesignatory.Intheeventofnon-paymentornon-acceptance,thepresentingbankshouldascertainthereasonsfordishonorandadvisetheremittingbankaccordinglywithoutdelay.4.2.4

PresentingBankDraweeisapartytowhompresentationistobemadeaccordingtothecollectioninstruction.Itisusuallytheimporterorbuyerunderasalescontract.Thedraweehastherighttoexaminethedocumentstodeterminewhetherhewillacceptthemornot,andatthesametimeheisobligedtopayoracceptthedraftbasedonthetermsofthecollection.Thedraweemayrefusetopay,however,oncethedraweepaysthedraftoracceptsandpaysthedraftatmaturity,hehastherighttoretainthedraft,evidencingthedischargeofhisliability.4.2.5

DraweeItisarepresentativenominatedbytheprincipaltostore,resell,conveybackthecargooralterthetermsofreleasingdocumentsintheeventofnon-paymentand/ornon-acceptance.Thepowerofsuchcase-of-needshouldbeclearlyandfullyindicatedinthecollectioninstruction.Intheabsenceofsuchindication,bankswillnotacceptanyinstructionsfromthecase-of-need.4.2.6

Case-of-need

Therelationshipbetweentheprincipal(exporter)andthedrawee(importer)isboundbythesalescontractbetweenthem.Boththeexporterandtheimportershouldactasstipulatedinthesalescontract.

Therelationshipbetweentheprincipalandtheremittingbankisboundbythecollectionapplication,basedonwhichtheremittingbankonlyservesasanagentfortheprincipaltocollecttheproceedsofsale.4.2.7RelationshipBetweenthePartiesTherelationshipbetweenremittingbankandcollectingbankisboundbythecollectioninstructions.Thecollectingbankservesasanagentonbehalfoftheremittingbanktocollecttheproceedsandassumesnoliabilityinthecaseofdishonorbythedrawee.4.2.7RelationshipBetweentheParties4.3

TypesofCollection4.3.1

CleanCollection

Itiscollectionoffinancialdocumentsnotaccompaniedbycommercialdocuments.Acleancollectionmeansanarrangementwherebytheprincipaldrawsonthedraweeforthevalueofthegoods/servicesandpresentsthedraft(s)totheremittingbankforcollection.Theremittingbankthensendsthedraft(s)alongwithacollectioninstructiontothecollectingbankforpaymentoracceptanceorothertermsandconditions.Acleancollectionmayrepresentanunderlyingmerchandiseorfinancialtransaction.Undercleancollection,thepaymentinstrumentmaybetraveler’scheque,commercialcheque,treasurychequeorpostalmoneyorder.Overalongtime,cleancollectionisusuallyusedincollectingremainingfunds,samplefees,commission,incidentalcharges,claimandsomeothernon-tradeexpenses.4.3.1

CleanCollectionBasedonthetenor,thecleancollectioncanbeclassifiedintosightcleancollectionandusancecleancollection.Sightcleancollectionmeanswhencollectingbankreceivesdemandedfinancialdocuments,itshouldpresentthemtothedraweeforthepaymentwithoutdelay;usancecleancollectionmeanswhencollectingbankreceivesusancefinancialdocuments,itshouldpresentthemtothedraweeforacceptancewithoutdelay,inordertodeterminethepaymentobligationsonduedate.4.3.1

CleanCollectionTheprincipalwillbeargreatriskwhenthecleancollectionpaymenttermsareadopted.Onlywhentheprincipalcanbeconvincedthatthedraweehastheabilityandwillingnesstopay,canthispaymentmethodbeused.Itisnotencouragedtousecleancollectionininternationalcargotradesettlement.4.3.1

CleanCollectionDocumentarycollectionmeanscollectionof:(1)financialdocumentsaccompaniedbycommercialdocuments;(2)commercialdocumentsnotaccompaniedbyfinancialdocuments.Itreferstotheprocessbywhichtheprincipalsubmitsfinancialdocumentsaccompaniedbycommercialdocumentsorcommercialdocumentsonlytoremittingbankforcollectingproceedsfromthedrawee.Underadocumentarycollection,thecollectingbankwillonlyreleasethedocumentstothedraweeagainstpaymentoracceptanceofthefinancialdocuments.4.3.2

DocumentaryCollectionD/Pmeansdocumentswillbereleasedonlyagainstpayment.Theprincipalorhisagentsubmitsthedocumentstotheremittingbankwithanordertodeliverthedocumentstothedraweeorhisagentonlywhenthedocumentshavebeenpaid.Documentsagainstpaymentcanbesub-classifiedinto:documentsagainstpaymentatsight(D/Patsight)anddocumentsagainstpaymentaftersight(D/Paftersight).4.3.2.1DocumentsagainstPayment(D/P)4.3.2

DocumentaryCollectionUnderD/Patsight,thecollectingbankpresentsdocumentstothedraweeforpayment.Onlyafterthepaymenthasbeeneffectedondemand(atsight),canthedocumentsbereleasedtothedrawee.Aspaymentwillbeeffecteduponpresentation,draftdoesnotplayanimportantroleinD/Patsight.Itsfunctioncanbereplacedbycommercialinvoice.4.3.2.1.1TheOverviewofD/PatSight4.3.2.1.2TheProceduresofD/PatSight①Theprincipal/exporterandthedrawee/importersignacontract,andindicateD/Patsightasthemethodofpayment.②Aftershipmentofthegoods,theprincipalissuesasightdraftandcommercialdocuments,fillsinacollectionapplicationform,andsubmitsthemtotheremittingbank.③Theremittingbankexaminesallthedocuments,sendingcollectioninstructionaccompaniedbythemtothecollectingbank.④Thecollectingbankpresentsthesightdrafttothedraweeforpayment.4.3.2.1.2TheProcduresofD/PatSight⑤Thedraweeeffectspaymenttothecollectingbank.⑥Thecollectingbankdeliversallthedocumentstothedrawee.⑦Thecollectingbanktransferstheproceedstotheremittingbank.⑧Theremittingbankcreditstheprincipal’saccountwithit.4.3.2.1.2TheProcduresofD/PatSightUnderD/Paftersight,thecollectingbankfirstpresentsthedrafttothedraweeforacceptance,butdoesnotreleasethedocumentstothedrawee,andwhentheacceptedbillmatures,thecollectingbankpresentsittothedraweeforpayment,andonlyagainstthepaymentwillthecollectingbankreleasethedocumentstothedrawee.ThedisadvantagesofD/Paftersightarethatwhengoodshavearrivedatthenamedport,thedraweecannotgetthedocumentswithoutpayment,andthereforehecannottakethegoodswhichwillleadtothedetainmentofcargoattheport.4.3.2.1.3TheOverviewofD/PafterSightComparedwithD/Patsight,D/Paftersighthasthefollowingfeatures:●Theprincipalwilldrawtheusancedraft.UnderD/Patsight,sightdraftwillbedrawnornodraftwillbesubmitted.ButtheprincipaliscompulsorilyrequiredtodrawusancedraftunderD/Paftersight.Thepurposeistoextendaperiodoftimeforthedraweetoraisefunds.●Thedraweeneedstoacceptthedraftwhendocumentsarepresented.Thentheaccepteddraftandcommercialdocumentswillbereturnedtothecollectingbank.ThereisnosuchproceduresunderD/Patsight.4.3.2.1.3TheOverviewofD/PafterSight●Paymentshouldbemadeatmaturity.Whentheusancedraftmatures,thecollectingbankshouldpresentthedocumentsforpayment.Onlywhenthefundshavebeenreceivedbythecollectingbankwillthedocumentsbereleasedtothedrawee.4.3.2.1.3TheOverviewofD/PafterSightOnepointneedstobementionedisthat:underD/Paftersightwhengoodsanddocumentsbothhavearrivedattheportofthedrawee’scountry,butthedraftisnotmature,thedraweeisallowedtoborrowdocumentsfromthecollectingbankbyTrustReceipt(T/R),thentakesthegoodsfromtheshippingcompany,sellsthegoodsandrepaysthecollectingbankinexchangefortheT/Rpresentedbefore.T/Risawrittenundertakingissuedbythedraweeandapprovedbythedraweesbank,bywhichtheapplicantcanborrowdocumentsfromthebanktotakegoodsfromtheshippingcompany.Thepledgeoftheborrowedgoodsbelongstothetrustorbankandthedraweeactsasatrusteetodealwiththegoods.Chart

4.2

Procedures

of

D/P

after

Sight4.3.2.1.4TheProceduresofD/PafterSight①Theprincipal/exporterandthedrawee/importersignacontract,andindicateD/Paftersightasthemethodofpayment.②Aftershipmentofthegoods,theprincipalissuesausancedraftandcommercialdocuments,fillsinacollectionapplicationform,andsubmitsthemtotheremittingbank.③Theremittingbankexaminesallthedocuments,sendscollectioninstructionaccompaniedbythemtothecollectingbank.④Thecollectingbankpresentstheusancedrafttothedraweeforacceptance.4.3.2.1.4TheProceduresofD/PafterSight⑤Thedraweemakesacceptanceonthedraft.⑥Thecollectingbankpresentsthedrafttothedraweeforpayment.⑦Thedraweeeffectspaymenttothecollectingbank.⑧Thecollectingbankreleasesthedocumentstothedrawee.⑨Thecollectingbanktransferstheproceedstotheremittingbank.⑩Theremittingbankcreditstheprincipalsaccountwithit.4.3.2.1.4TheProceduresofD/PafterSight4.3.2.2.1TheOverviewofD/A4.3.2.2DocumentsagainstAcceptance(D/A)Documentsagainstacceptancemeansthatthecollectingbankisallowedtoreleasethedocumentstothedraweeagainstthedrawee’sacceptanceofthedraft.ThedraftunderD/Aisausancedraft.Itmaybemadepayableafterdateoraftersight.4.3.2.2.1TheOverviewofD/AUnderD/Aterm,theprincipalisextendingcredittothedrawee,i.e.beforepaymentthedraweemayobtainthedocumentstotakethegoods.Thispaymenttermisfavorabletothedrawee.Whattheprincipalobtainsafterthereleasingofgoodsisanaccepteddraftfromthedrawee(bearingcommercialcredit),hencefacingtheriskofdrawee’snon-payment.BothD/AandD/Paftersightwilluseusancedraft.Thedifferenceliesinthat,underD/A,documentswillbereleasedtothedraweewhenthedrafthasbeenacceptedonpresentation,whileunderD/Paftersight,documentswillbereleasedtothedraweewhenthepaymenthasbeenmadeagainsttheaccepteddraftatmaturity.4.3.2.2.2TheProceduresofD/APleaseseeChart4.3fortheproceduresofD/A.①Theprincipal/exporterandthedrawee/importersignacontract,andindicateD/Aatsightasthemethodofpayment.②Aftershipmentofthegoods,theprincipalissuesausancedraftandcommercialdocuments,fillsinacollectionapplicationform,andsubmitsthemtotheremittingbank.③Theremittingbankexaminesallthedocuments,sendscollectioninstructionaccompaniedbythemtothecollectingbank.④Thecollectingbankpresentstheusancedrafttothedraweeforacceptance.⑤Thedraweemakesacceptanceonthedraft.⑥Thecollectingbankreleasesthedocumentstothedrawee.Chart

4.3

Procedures

of

D/A4.3.2.2.2TheProceduresofD/A⑦Onmaturitydatethedraweeeffectspaymenttothecollectingbank.⑧Thecollectingbanktransferstheproceedstotheremittingbank.⑨Theremittingbankcreditstheprincipal’saccountwithit.4.3.3.1DefinitionofDirectCollection4.3.3DirectCollectionDirectcollectionisanarrangementwherebytheprincipalobtainstheremittingbankspre-numbereddirectcollectioninstruction,whichisfilledbytheprincipalhimselfenablinghimtosendthedocumentsdirectlytothe

collectingbankforcollection.

Chart

4.4

Procedures

of

Direct

Collection4.3.3.2ProceduresofDirectCollection4.3.3.2ProceduresofDirectCollection①Theprincipal/exporterandthedrawee/importersignacontract,andindicatedirectcollectionasthemethodofpayment.②Theremittingbankforwardsthepre-numberedcollectioninstructiontotheprincipal.③Theprincipalforwardsthefilledcollectioninstructionsaccompaniedbydocumentsdirectlytothecollectingbank.④Thecollectingbankpresentsthedocumentstothethedraweeforacceptance/payment.⑤Thedraweeeffectspaymentandthecollectingbankreleasesthedocuments.⑥Thecollectingbanktransferstheproceedstotheremittingbank.⑦Theremittingbankcreditstheprincipalsaccountwithit.4.3.3.2ProceduresofDirectCollection①Theprincipal/exporterandthedrawee/importersignacontract,andindicatedirectcollectionasthemethodofpayment.②Theremittingbankforwardsthepre-numberedcollectioninstructiontotheprincipal.③Theprincipalforwardsthefilledcollectioninstructionsaccompaniedbydocumentsdirectlytothecollectingbank.④Thecollectingbankpresentsthedocumentstothethedraweeforacceptance/payment.⑤Thedraweeeffectspaymentandthecollectingbankreleasesthedocuments.⑥Thecollectingbanktransferstheproceedstotheremittingbank.⑦Theremittingbankcreditstheprincipalsaccountwithit.4.4

ResponsibilitiesandObligationsunderCollection

Underthedocumentarycollection,differentpartieshavedifferentresponsibilitiesandobligations.Itisofvitalimportancetounderstandthoseresponsibilitiesandobligations.4.4.1ResponsibilitiesandObligationsofthePrincipalTheprincipalundercollectionistheexporterininternationaltrade.Itisrequiredtoestablishthesalescontractrelationshipwiththeimporter,alsotoestablishtheprincipal-agentrelationshipwiththeremittingbank.Astheroleoftheexporter,theprincipalshouldprepareandshipthegoodsinstrictcompliancewiththequalityandquantityrequirementinthesalescontractandpresentthestipulateddocumentstotheremittingbankforcollection.4.4.1ResponsibilitiesandObligationsofthePrincipalTheprincipal-agentrelationshipwiththeremittingbankisestablishedbycollectionapplicationmadebytheprincipalandconfirmedbytheremittingbank.Collectionapplicationservesasthecontractbetweentheprincipalandtheremittingbankandtheremittingbankisrequiredtoactinstrictcompliancewiththeapplication.4.4.2ResponsibilitiesandObligationsoftheRemittingBankTheremittingbankactsastheagentoftheprincipalincollectionbusiness.Itsmainresponsibilitiesandobligationsare:(1)Tocheckthecollectionapplicationandspecialinstructionfromtheprincipal(2)Toverifythetypeandnumberofdocumentstobeapparentlyinconsistentwiththoseappearedinthecollectionapplication.(3)Tocreatethecollectioninstruction.Collectioninstructionisdrawninstrictcompliancewiththecollectionapplication.4.4.3ResponsibilitiesandObligationsoftheCollectingBankThemainresponsibilitiesandobligationsofthecollectingbankare:●Tohandletheinstructionreceivedfromtheremittingbank.●Toconfirmdocumentsreceivedareinaccordancewiththoselistedonthecollectioninstruction.●Tocreatethenecessarydocumentstofacilitatethecollectionbusinessaspertheinstructionfromtheremittingbank.●Toeffectpaymentwithoutdelay.●Tonotifythecollectionsituation.4.4.4ResponsibilitiesandObligationsoftheDraweeThemainresponsibilityofthedraweeundercollectionistofulfillthepaymentobligationundersalescontract.Whenthecollectingbankhaspresentedhimshippingdocumentsevidencingtheprincipalhasfulfilledthesalescontractobligation,thedraweeshouldeffectpaymentasperthesalescontract’sregulation.4.5PointsforAttentionunderCollection4.5.1TransportDocuments

Goodsshouldnotbedelivereddirectlytotheaddressofabankorconsignedtoortotheorderofabankwithoutprioragreementonthepartofthatbank.4.5.2Interest4.5.3ChargesandExpensesIfthecollectioninstructionspecifiesthatcollectionchargesand/orexpensesaretobepaidbythedraweeandthedraweerefusestopaythem,thepresentingbank/collectingbankmaydeliverthedocument(s)againstpaymentoracceptanceoronothertermsandconditionsastherealfactswithoutcollectingchargesand/orexpenses.Whenevercollectionchargesand/orexpensesaresowaived,theywillbepaidbytheprincipalandmaybedeductedfromtheproceeds.4.5.2Interest4.5.3ChargesandExpensesWherethecollectioninstructionexpresslystatesthatchargesand/orexpensesmaynotbewaivedandthedraweerefusestopaysuchchargesand/orexpenses,thepresentingbank/collectingbankwillnotdeliverdocumentsandwillnotberesponsibleforanyconsequencescausedbythedelayinthedeliveryofthedocument(s).Whenpaymentofcollectionchargesand/orexpenseshavebeenrefused,thepresentingbank/collectingbankmustinformtheremittingbankbytelecommunicationorotherexpeditiousmeanswithoutdelay.4.5.4ProtestThecollectioninstructionshouldgivespecificinstructionsregardingprotest,intheeventofnon-paymentornon-acceptance.Intheabsenceofsuchspecificinstructions,thebankshavenoobligationtohavethedocument(s)protestedfornon-paymentornon-acceptance.4.5.5GeneralNotesandCautionsforHandlingCollectionBusinessWheninternationaltransactionsareconducedbypaymentmethodofcollection,listedbellowarenotesandcautionsthatarefundamentaltotheprocessandofgreatimportancetoallpartiesincollectionbusiness.(1)Thebankinvolvedinadocumentarycollectiondoesnotguaranteepaymentorassumeanycreditrisk.(2)Iftheshipper/principalsendsgoodsdirectlytothedrawee’saddress,theshipmentwillbehandedoverwithoutthedraweemakingpayment.(3)Goodsaretransported,storedandinsuredattheexpenseandriskoftheprincipaluntilpaymentoracceptanceoccurs.4.5.5GeneralNotesandCautionsforHandlingCollectionBusiness(4)Documentarycollectionhasoneadditionalsafeguardovertransactionsconductedonanopenaccountbasis.(5)UnderD/Ptermsthedraweemayrefusetopay,inwhichcasetheprincipalmaintainstitletotheshipment.(6)UnderD/Atermsthedraweemayrefusetoacceptthedraft,inwhichcasetheprincipalisinthesamepositionasunderD/Ptermswherethedraweerefusestopaythedraft.(7)UnderD/Atermsthedraweemayacceptthedraft,takethepossessionofthegoods,butthenrefusetopaythedraftatmaturity.4.5.5GeneralNotesandCautionsforHandlingCollectionBusiness(8)Sincebankswillonlydealwiththeapparentlyrealdocument,butnotdealwithgoods,itispossiblethattheprincipalwillsendashortshipment,theincorrectgoods,orinferiorgoods.Whendealingwithcollectionbusiness,asanintermediary,banksmustbecautiousofthefollowingnotesandtips:(2)Bankshaveresponsibilitytoverifythatdocumentsreceivedappearontheirfacetobeasspecifiedinthecollectionapplication,butdonothavetheresponsibilitytoauthenticateeachindividualdocuments.(3)Ifthedocumentreceivedisnotasperlistedonthecollectioninstruction,thebankmustimmediatelynotifythepartyfromwhomitreceivesthedocuments.4.5.5GeneralNotesandCautionsforHandlingCollectionBusiness(5)Thedraweeistobepresenteddocumentsintheforminwhichtheywerereceivedfromtheprincipal.(6)Ifanincompleteorincorrectaddressofthedraweeisshownonthecollectionorder,thecollectingbankmay,withoutobligationorresponsibility,attempttofindthecorrectaddress.(7)Thebanksmustmakepresentationofdocumentswithoutdelay.[銀行應(yīng)毫不延誤地提示單據(jù)?！皐ithoutdelay”的表示過(guò)于模糊,不好掌握,委托人可在托收指示中予以明確,例如,代收行收到單據(jù)后在2個(gè)銀行工作日內(nèi)向受票人提示。]4.5.5GeneralNotesandCautionsforHandlingCollectionBusiness(8)Ifthedocumentscallforpaymentinaspecificcurrency,thebankmust,unlessotherwiseinstructed,collectpaymentfordocumentsinthatcurrency.(9)Thecollectingbankmaynotacceptpartialpaymentfromthedraweeunlessotherwiseinstructedinthecollectioninstruction.(10)Ifacollectionremainsunpaidorabillofexchangeremainsunacceptedandthecollectingbankreceivesnonewinstructionwithinaperiodoftime(normallywithin90days),thecollectingbankmayreturnthecollectiondocumentsandcollectioninstructiontotheremittingbank.4.6InternationalCustomsandPracticesforCollection—URC5224.6.1FormingProcessofURC522

In1958,theInternationalChamberofCommerce(ICC)draftedUniformRulesforCollectionofCommercialPaper(ICCPublicationNo.192).Ithaslaidasolidfoundationtotheform,structure,procedure,principleandunifiedtermsanddefinitionofcollectionbusiness.In1967,theICCpublisheditsNo.254publicationwhichhadannouncedtheserules.4.5.2Interest4.5.3ChargesandExpensesWherethecollectioninstructionexpresslystatesthatchargesand/orexpensesmaynotbewaivedandthedraweerefusestopaysuchchargesand/orexpenses,thepresentingbank/collectingbankwillnotdeliverdocumentsandwill