UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS

Tài liệu học tập tham khảo môn thanh toán quốc tế. Tài liệu bằng tiếng Anh. . The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits ("rules"), ICC Publication No. 725, shall apply to any bank-to-bank reimbursement when the text of the reimbursement authorization expressly indicates that it is subject to these rules. They are binding on all parties thereto, unless expressly modified or excluded by the reimbursement authorization. The issuing bank is responsible for indicating in the documentary credit ("credit") that reimbursement is subject to these rules. . | URR725 UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS APPROVED ON . IN FORCE SINCE 01 10 2008 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. 725 shall apply to any bank-to-bank reimbursement when the text of the reimbursement authorization expressly indicates that it is subject to these rules. They are binding on all parties thereto unless expressly modified or excluded by the reimbursement authorization. The issuing bank is responsible for indicating in the documentary credit credit that reimbursement is subject to these rules. In a bank-to-bank reimbursement subject to these rules the reimbursing bank acts on the instructions and under the authority of the issuing bank. These rules are not intended to override or change the provisions of the Uniform Customs and Practice for Documentary Credits. Article 2. Definitions 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 a. Issuing bank means the bank that has issued a credit and the reimbursement authorization under that credit. b. Reimbursing bank means the bank instructed or authorized to provide reimbursement pursuant to a reimbursement authorization issued by the issuing bank. c. Reimbursement authorization means an instruction or authorization independent of the credit issued by an issuing bank to a reimbursing bank to reimburse a claiming bank or if so requested by the issuing bank to accept and pay a time draft drawn on the reimbursing bank. d. Reimbursement Amendment means an advice from the issuing bank to a reimbursing bank stating changes to a reimbursement authorization. e. Claiming Bank means a bank that honours or negotiates a credit and presents a reimbursement claim to the reimbursing bank. Claiming Bank includes a bank authorized to present a reimbursement claim

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