《国际商贸》英语Chapter 8 Collection.ppt

Introduction Types of collection and procedure Characteristics，risks and bank’s liabilities Finance under documentary collection Chapter 8 Collection 8.1 Introduction Collection means the handling of documents by banks in accordance with instructions received to: obtain payment and /or acceptance for exporter； deliver documents against payments and /or against acceptance Parties to a collection Definition The principal The drawee or payer The remitting bank The collecting bank Presenting bank Uniform rules for collection (URC) The Uniform Rules for Collection (URC) was published by International Chamber of Commerce. It is an international accepted code of practice covering documentary collections. It has a legal binding on all parties because all bank authorities will state that the collection is subject to URC.URC will apply unless the collection order states otherwise or the laws in one of the countries concerned specially contradict the rules in URC. Outward collection when a bank acts as a remitting bank , the collection is referred to as an outward one on his part because he will send the collection items abroad to the colleting bank . Inward collection When a bank acts as a collecting bank ,the collection business will be referred to as An inward one on his part because he is to receive the collection items forwarded to him from an overseas bank . 8.2 Types of Collection and Procedures Types of collection According to whether commercial documents are attached to financial documents when submitted to the remitting bank ,collection can be divided into clean collection and documentary collection. Clean collection clean collection is the collection on financial instruments alone without being accompanied by commercial documents . Documentary collection documentary collection is the collection on financial instruments being accompanied by commercial documents or the collection on shipping documents without fina