This publication combines the text of the updated ICC Uniform Rules for Collections (ICC Publication No. 522) with comments on each Article by the members of the ICC Working Group who drafted the Rules.
Each of the Rules is followed by the relevant commentary including points of interest and issues raised. The comments:
- reflect the views expressed by the Working Party in the course of its discussions during the revision of URC 322
- give further guidance on practical issues which arise during the handling of Collections
- provide insight into the line of thought running through the handling of Collections
- will assist training personnel, both in the banks and in the commercial and other disciplines involved, to use more of a common sense approach in their training work to the ultimate benefit of the handling of Collections overall
Also included is a comparative index showing the evolution of the revised Rules.