URR Find the articles of the Uniform Rules for Bank-to-Bank Reimbursements, publication number URR Wef 1st October Updating URR ICC Publication. 17 articles. Applicable to Bank to Bank Reimbursement under Documentary. Applicable to Bank to Bank Reimbursement under Documentary Credit. URR contains a number of technical changes from the previous vs.
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If a reimbursement uniform rules for reimbursement 725 is made by teletransmission, no mail confirmation is to be sent.
If the reimbursing bank is not prepared to act for any reason whatsoever under the reimbursement authorization or reimbursement amendment, it must so inform the issuing bank without delay. If a reimbursement claim is presented more than ten banking days prior to the predetermined date, the reimbursing bank may disregard the reimbursement claim. A reimbursement amendment must state the relative changes to the above.
They are binding on all parties thereto, unless expressly modified or excluded by the reimbursement authorization. Any claim for loss of interest, loss of value due to any exchange rate fluctuations, revaluations or devaluations are between the claiming bank and the issuing bank, unless such losses result from the non-performance of the reimbursing bank yniform a reimbursement undertaking. When an issuing bank has amended its irrevocable reimbursement authorization, a reimbursing bank that has issued its reimbursement undertaking may amend its undertaking to reflect such amendment.
If the reimbursing bank is requested to accept and pay a time draft, the irrevocable reimbursement authorization must also indicate the following, in addition to the information contained in B. Reimbursement amendment means an advice from the issuing bank to a reimbursing bank stating changes to a reimbursement authorization. A reimbursing bank assumes no liability or responsibility if it honours a reimbursement claim indicating that a payment, acceptance or negotiation was made under reserve or against an indemnity, and shall disregard such indication.
This document is not intented as legal advice but is being provided for reference purpose only. In the absence of uniform rules for reimbursement 725 such indication, the reimbursing bank is authorized to pay any claiming bank; 5.
Uniform rules for reimbursement 725 reimbursement authorization must in addition to the requirement of article 1 for incorporation of reference to these rules state the following: A reimbursing bank is irrevocably reimburse,ent to honour a reimbursement claim as of the time it issues the reimbursement undertaking. When a reimbursing bank has not issued a reimbursement undertaking and a uniform rules for reimbursement 725 is due on a future date: A reimbursing bank will not process a request for uniform rules for reimbursement 725 value value dating prior to the date of a reimbursement claim from the claiming bank.
An irrevocable reimbursement authorization cannot be amended or 72 without the agreement of the reimbursing bank. The terms of the original reimbursement undertaking or a reimbursement undertaking incorporating previously accepted reimbursement amendments will remain in force for the claiming bank until it communicates its acceptance of the reimbursement undertaking amendment to the reimbursing bank.
URR – Uniform Rules for Bank-to-Bank Reimbursements_百度文库
The reimbursing bank assumes no liability or responsibility for any consequences that may arise from any such duplication. Unless otherwise expressly agreed to by the reimbursing bank and the claiming bank, a reimbursing bank will effect reimbursement under a reimbursement claim only to the claiming bank.
In addition to the provisions of articles 3 and 4, the reimbursing bank is not responsible for the consequences resulting from non-reimbursement or delay in reimbursement of reimbursement claims when reimburseement provision contained in this article is not followed by the issuing bank or claiming bank.
The name URRthe articles displayed on this page and uniform rules for reimbursement 725 related to it are the property of the International Chamber of Commerce.
ICC updates bank-to-bank reimbursement rules
For the purpose of these rules, uniform rules for reimbursement 725 following terms shall have the meaning specified reimbrsement this article and may be used in the singular or plural as appropriate:. When a reimbursing bank follows the instructions of the issuing bank regarding charges including commissions, fees, costs or expenses and these charges are not paid, or a reimbursement claim is never presented to the reimbursing bank under the reimbursemrnt authorization, the issuing bank remains liable for such charges.
Except to the extent expressly agreed to by the reimbursing bank, the reimbursement authorization should not be subject to an expiry date or latest date for presentation of a claim, except as indicated in article 9.
A reimbursement authorization is separate from the credit to which it refers, and a reimbursing bank is not concerned with or bound by the terms and conditions of the credit, even if any reference whatsoever to it is included in the reimbursement authorization.
An issuing bank must not, upon receipt of documents, give a new reimbursement authorization or additional instructions unless they constitute an amendment to, or a cancellation of, an existing reimbursement authorization. A reimbursing bank’s charges are for the account of the issuing uniform rules for reimbursement 725.
reimbursemnet Issuing bank means the bank that has issued a credit and the reimbursement authorization under that credit. When a reimbursing bank has not issued a reimbursement undertaking and a reimbursement is due on a future date:. These rules reimursement not intended to uniform rules for reimbursement 725 or change the provisions of the Uniform Customs and Practice for Documentary Credits.
A reimbursement undertaking must indicate the terms and conditions of the undertaking and: A reimbursement undertaking cannot be amended or cancelled without the agreement of the claiming bank. Such notice shall be sent to uniform rules for reimbursement 725 claiming bank and the issuing bank and, in the case of a reimbursement undertaking, it must state the reasons for non-payment of the claim.
A reimbursing bank assumes no liability or responsibility uniform rules for reimbursement 725 the consequences arising out of the interruption of its business by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism foe by any strikes or lockouts or any other causes beyond its control. When honouring a reimbursement claim, a reimbursing bank is obligated to follow the instructions regarding any charges contained in the reimbursement authorization.
In rekmbursement bank-to-bank reimbursement subject to these rules, the reimbursing bank acts on the instructions and under the authority of the issuing bank.
ICC Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits | ICC Store
A reimbursing bank must communicate its acceptance or rejection of an uniform rules for reimbursement 725 reimbursement authorization amendment to the issuing bank. All reimbursement authorizations and reimbursement amendments must be issued in the form of rues authenticated teletransmission or a signed letter. If the issuing bank does not comply with the above and a duplicate reimbursement is made, it is the responsibility of the issuing bank rei,bursement obtain the return of the amount of the duplicate reimbursement.
The issuing bank is responsible for providing the information required in these rules in both the reimbursement authorization and uniform rules for reimbursement 725 credit, and is responsible for any consequences resulting from non-compliance with this provision.
Except as provided by the terms deimbursement its reimbursement undertaking, a reimbursing bank is not obligated to honour a reimbursement claim. If the uniform rules for reimbursement 725 bank is authorized or requested by the issuing bank to issue its reimbursement undertaking to the claiming bank but is not prepared to do so, it must so inform the issuing bank without delay.
uniform rules for reimbursement 725 For the purpose of these rules, the following terms shall have the meaning specified in this article and may be used in the singular or plural as appropriate: The teletransmission will be deemed the operative reimbursement authorization or reimbursement amendment, and any subsequent mail confirmation shall be disregarded.