payment by exchange of documents

RolandLeupi · Post by **RolandLeupi** » Tue Nov 28, 2006 12:00 am

We should send to a collecting bank a documentary collection enclosing only a promissory-note which would be delivered to the customer against his presentation of some shipping documents, including copy of invoice and B/L.
Has someone any experience in this speciality ?
Thanks in advance
Roland

NigelHolt · Post by **NigelHolt** » Wed Nov 29, 2006 12:00 am

Sorry, no.

JudithAutié · Post by **JudithAutié** » Wed Nov 29, 2006 12:00 am

I don't either, but would be very wary of receiving such a "collection". Under what rules would it follow ? What kind of B/L, inv. etc. should be received ? Would the correspondant be responsible for checking "conformity" and against what would it be checked?

Sorry can't be of more help.
Judith

POLTERD. · Post by **POLTERD.** » Thu Nov 30, 2006 12:00 am

Dear Roland,
First, if you have to send only a promissory note (without commercial documents) is a clean collection (from your mssg I understand you have to send only a promissory note).
Second,by one hand URC522 art.2
clearly states that a collections also means the handling by banks of docs in order to deliver docs on other terms and conditions than against payment and/or acceptance.You might enclose your case within other terms and conditions based on you may send a document under a collection.
By the other hand you have URC522's art 9.
Regards,
Bogdan

RolandLeupi · Post by **RolandLeupi** » Thu Nov 30, 2006 12:00 am

Thanks to all for your feedback