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ICC UNIFORM RULES FOR BANK TO BANK REIMBURSEMENTS UNDER DOCUMENTARY CREDITS

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The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (“Rules”), ICC Publication No. 525, shall apply to all Bank-to-Bank Reimbursements where they are incorporated into the text of the Reimbursement Authorisation. They are binding on all parties thereto, unless otherwise expressly stipulated in the Reimbursement Authorisation. The Issuing Bank is responsible for indicating in the Documentary Credit (“Credit”) that Reimbursement Claims are subject to these Rules. In a Bank-to-Bank Reimbursement subject to these Rules, the Reimbursing Bank acts on the instructions and/ or under the authority of the Issuing Bank. These Rules are not intended to override or change the provisions of the ICC Uniform Customs and Practice for Documentary Credits | ICC UNIFORM RULES FOR BANK TO BANK REIMBURSEMENTS UNDER DOCUMENTARY CREDITS Rules for Bank­to­Bank Reimbursements under Documentary Credits URR525 – July 1st 1996 ICC UNIFORM RULES FOR BANK­TO­ BANK REIMBURSEMENTS UNDER DOCUMENTARY CREDITS Caùc qui taéc thoáng nhaát veà hoaøn traû giöõa caùc ngaân haøng trong tín duïng chöùng töø A. General Provisions and Definitions Article 1 - Application of URR The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (“Rules”), ICC Publication No. 525, shall apply to all Bank-to-Bank Reimbursements where they are incorporated into the text of the Reimbursement Authorisation. They are binding on all parties thereto, unless otherwise expressly stipulated in the Reimbursement Authorisation. The Issuing Bank is responsible for indicating in the Documentary Credit (“Credit”) that Reimbursement Claims are subject to these Rules. In a Bank-to-Bank Reimbursement subject to these Rules, the Reimbursing Bank acts on the instructions and/ or under the authority of the Issuing Bank. These Rules are not intended to override or change the provisions of the ICC Uniform Customs and Practice for Documentary Credits. Article 2 - Definitions As used in these Rules, the following terms shall have the meanings specified in this Article and may be used in the singular or plural as appropriate: a). “Issuing Bank” shall mean the bank that has issued a Credit and the Reimbursement Authorisation under that Credit. b). “Reimbursing Bank” shall mean the bank instructed and/or authorised to provide reimbursement pursuant to a Reimbursement Authorisation issued by the Issuing Bank. Page 1 of 16 Rules for Bank­to­Bank Reimbursements under Documentary Credits URR525 – July 1st 1996 c). “Reimbursement Authorisation” shall mean an instruction and/or authorisation, independent of the Credit, issued by an Issuing Bank to a Reimbursing Bank to reimburse a Claiming .