Letter of Credit Forum

Provided that the transaction complies with the exchange regulations in drawee's country, the exporter can send documents/collection directly to the collecting/presenting bank, without involving remitting bank, under Uniform Rules for Collection 522.

The covering schedule must contain the reference to the publication 522 URC.

Memo: some countries/banks do not accept collections directly from the principal due to law / regulation / compliance, under Article 1b and 1c of same URC522.

Ciao

hI Friend,

the URC refer to at least the intervention of one bank. Exporter that sends documents directly to the buyers bank.

If an exporter  sends documents to the importer it is just an open account transaction. If it has been made by mistake,

exporter may instruct its bank to contact the importer's bank and establish a "notional" collection

where open account transaction are prohibeìited.

Other comments appreciated

Ciao