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Volume XI in the series of the highly popular Frequently Asked Questions under UCP 600 publications is now available.

26/03/2013 Details can be found at the Publications tab of this website. When ordering please indicate the volume number, quantity and address to which the books are to be sent. Remember, members of the website receive a 10% discount on the price of the books.

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ICC Trade Advisory Briefing list updated 28/08/2025

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TradeSpeed - the Automated Document Examination platform of choice 22/08/2025

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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?