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New On-Line Training platform now available!
03/11/2014
We would like to direct your attention to the new 'On-Line Training' tab which contains exciting information regarding a new On-Line Training platform that is being provided by Collyer Consulting Global Ltd and LCTrade Advisory.
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Recent News
ICC Trade Advisory Briefing list updated
28/08/2025
The list of ICC Trade Advisory Briefing notes has been updated with numbers 13 and 14...
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TradeSpeed - the Automated Document Examination platform of choice
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I have mentioned previously that I have been acting as an advisor/consultant to a company called Complidata who are based out of Belgium...
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Latest Question
When the remitting bank’s charges are to be borne by the drawee, as per URC 522 article 4 (b) (viii) “charges to be collected, indicating whether they may be waived or not”, the remitting bank must indicate such information on the collection instruction and indicate whether they may be waived or not. When the remitting bank’s charges are to be borne by the principal, the collection instruction would not show their charges. When the collecting bank’s charges are to be borne by the principal, as per URC 522 sub-article 21 (c) “In all cases where in the express terms of a collection instruction or under these Rules, disbursements and/or expenses and/or collection charges are to be borne by the principal, the collecting bank(s) shall be entitled to recover promptly……”, the remitting bank should indicate such information on the collection instruction Question: When the collecting bank’s charges are to be borne by the drawee, must the collection instruction indicate such information? In other words, if not, i.e., the collection instruction is silent with regard to the collecting bank’s charges, the collecting bank may collect their charges from the principal and deduct their charges from the payment. Is it reasonable?
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