Difference between revisions of "Documentary Collection"
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Latest revision as of 23:02, 10 February 2020
Definition
Documentary Collection. It is the handling by financial institutions of documents in accordance with instructions received to obtain payment and/or acceptance, or to deliver documents against payment and/or against acceptance, or to deliver documents on other terms and conditions, if subject to internationally recognized rules of practice issued by the International Chamber of Commerce (ICC). ICC's current publication is called Uniform Rules for Collections (URC 522).
