URR Find the articles of the Uniform Rules for Bank-to-Bank Reimbursements, publication number URR Wef 1st October Updating URR ICC Publication. 17 articles. Applicable to Bank to Bank Reimbursement under Documentary. Applicable to Bank to Bank Reimbursement under Documentary Credit. URR contains a number of technical changes from the previous vs.
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A claiming bank must communicate its acceptance or rejection of a reimbursement undertaking amendment to the reimbursing bank. When an issuing bank has amended its irrevocable reimbursement authorization, a reimbursing bank that has issued its reimbursement undertaking may amend its undertaking to reflect such amendment.
ICC updates bank-to-bank reimbursement rules
A reimbursement claim received outside banking hours uniform rules for reimbursement 725 be deemed to be received on the next following banking day.
When a reimbursing bank follows the instructions of the issuing uniiform regarding charges including commissions, fees, costs or expenses and these charges are not paid, or a reimbursement claim is never presented to the reimbursing bank under the reimbursement authorization, the issuing bank remains liable for such charges.
A unifom undertaking must indicate the terms and conditions of the undertaking and: If the latest date for presentation of a claim falls on a day when the reimbursing bank is closed for reasons other than those referred to uniform rules for reimbursement 725 article 15, the latest date for presentation of a claim will be extended to the reimnursement following banking day.
If a pre-debit notification is required by the issuing bank, this pre-debit notification period uniform rules for reimbursement 725 be in addition to the processing period mentioned above. If such copies are received by the reimbursing bank, they shall be disregarded. The teletransmission will be deemed the operative reimbursement authorization or reimbursement amendment, and any subsequent mail confirmation shall be disregarded.
Doly & Co – URR
Except where the issuing bank has authorized or requested uniform rules for reimbursement 725 reimbursing bank to issue a reimbursement undertaking as provided in article 9, and the reimbursing bank has issued a reimbursement undertaking:. Except where the issuing bank has authorized or requested the reimbursing bank to issue a reimbursement undertaking as provided in article 9, and the reimbursing bank has issued a reimbursement undertaking: A reimbursing bank must communicate its acceptance or rejection of an irrevocable reimbursement authorization amendment to the issuing bank.
In a bank-to-bank reimbursement subject to these rules, the reimbursing bank acts on the instructions and under the authority of the issuing bank. A reimbursement authorization is separate from the credit to which it refers, and a reimbursing bank is not concerned with or bound fod the terms and conditions of the credit, even if any reference whatsoever to it is included in the reimbursement authorization.
When a reimbursing bank has not issued a reimbursement undertaking and a reimbursement is due on a future date: A uniform rules for reimbursement 725 bank will assume no responsibility for the expiry date of a credit and, if such date is provided in the reimbursement authorization, it will be disregarded. A reimbursement amendment must state the relative changes to uniform rules for reimbursement 725 above.
The issuing bank is responsible for indicating in the documentary credit ” credit ” that reimbursement is subject to these rules. If a reimbursement claim is made by teletransmission, no mail confirmation is to be sent.
If the issuing bank fails to provide the reimbursing bank with instructions regarding charges, all charges shall be for the account of the issuing bank. When honouring a reimbursement claim, a reimbursing bank is obligated to follow the instructions regarding any charges contained in the reimbursement authorization. The issuing bank must cancel its reimbursement authorization for any unutilized portion of the credit to which it refers, informing the reimbursing bank without delay.
First published inthe last update is effective since October 1st, Unless otherwise expressly agreed to by the reimbursing bank and the claiming uniform rules for reimbursement 725, a reimbursing bank will effect reimbursement under a reimbursement claim only to the claiming bank. Reimbursement uniform rules for reimbursement 725 reimburseemnt means an advice from the reimbursing bank to the claiming bank named in the reimbursement authorization stating changes to a reimbursement undertaking.
A reimbursing bank assumes no liability or responsibility for the consequences arising out of the interruption of its business by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism or by any strikes or lockouts or any other causes beyond its control. Reimbursement authorization means an instruction or authorization, independent of the credit, issued by an issuing bank to a reimbursing bank to reimburse a claiming bank or, if so requested by the issuing bank, to accept and pay a time draft drawn on the reimbursing bank.
The issuing bank shall be bound by and liable to indemnify the reimbursing bank against all obligations and responsibilities imposed by foreign laws and usages. Uniform rules for reimbursement 725 authorization or uniform rules for reimbursement 725 by the issuing bank to the reimbursing bank rejmbursement issue a reimbursement reimburseement is irrevocable ” irrevocable reimbursement authorization ” and must in addition to the requirement of article 1 for incorporation of reference to these rules contain the following:.
When a credit or amendment thereto which has an effect on the reimbursement authorization is issued by teletransmission, the issuing bank should advise its reimbursement authorization or reimbursement amendment to the reimbursing bank by authenticated teletransmission.
URR – Uniform Rules for Bank-to-Bank Reimbursements_百度文库
A reimbursing bank’s charges are for the account of the issuing bank. An issuing bank that has issued its irrevocable reimbursement authorization amendment shall be irrevocably bound as of the time of its advice of the irrevocable reimbursement authorization amendment.
The name URRthe articles displayed on this page and everything related to it are the property of the Foor Chamber of Commerce. Claiming bank means a bank that uniform rules for reimbursement 725 or negotiates a credit and presents a reimbursement claim to the reimbursing bank.
Unform terms of the original irrevocable reimbursement authorization or an authorization uniform rules for reimbursement 725 previously accepted irrevocable reimbursement authorization amendments will remain in force for the reimbursing bank until it communicates its acceptance of the amendment to the issuing bank.
These rules reimbursemdnt not intended to override or change the provisions of the Uniform Customs and Practice for Documentary Credits.
Reimbursing bank means the bank instructed or authorized to provide reimbursement pursuant to a reimbursement authorization issued by the issuing bank. A reimbursing bank assumes no liability or responsibility for errors in translation or interpretation of technical terms.
If a reimbursement authorization states that the reimbursing bank’s charges are for the account of the beneficiary, they shall uniform rules for reimbursement 725 deducted from the uniform rules for reimbursement 725 due to a claiming bank when reimbursement is made.
Reimbursement undertaking means a separate irrevocable undertaking of the reimbursing bank, issued upon the authorization or request of the issuing bank, to the claiming bank named in the reimbursement authorization, to honour that bank’s reimbursement claim, provided the terms and conditions of the reimbursement undertaking have been complied with. A reimbursing bank shall have a maximum of three banking days following the day of receipt of the reimbursement claim to process the claim.
If the reimbursing bank determines not to reimburse, either because of a non-conforming claim under a reimbursement undertaking or for any reason whatsoever under a reimbursement authorization, it shall give notice to that effect by telecommunication or, if that is not possible, by other expeditious means, no later than the close of the third banking day following the day of receipt of the claim plus any additional period mentioned in sub-article 1.
A reimbursement authorization must uniform rules for reimbursement 725 addition to the requirement of article 1 for incorporation of reference to these rules state the following:. In the event such a mail confirmation is sent, the claiming bank will be responsible for any consequences that may arise from a duplicate reimbursement; 2.
If the reimbursing bank disregards the reimbursement claim, it must so inform the claiming bank by teletransmission or other expeditious means without delay.