GlossaryEN1 min readUpdated: Jun 24, 2026
ICC Uniform Rules for Collections (URC 522)
When an exporter wants to control the release of shipping documents without the cost and complexity of a letter of credit, the documentary collection procedure under URC 522 applies.
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Source: https://iccwbo.org/business-solutions/trade-finance/urc-522/
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Logistics Concept
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Definition & Explanation
When an exporter wants to control the release of shipping documents without the cost and complexity of a letter of credit, the documentary collection procedure under URC 522 applies. The ICC Uniform Rules for Collections, in force since 1995, standardize both documentary and clean collections: the exporter instructs its remitting bank to forward documents—commercial invoice, transport document, insurance certificate—to the collecting bank, with instructions to release them to the importer only against payment or acceptance of a bill of exchange. All four parties—exporter, remitting bank, collecting bank, and importer—carry clearly defined responsibilities. Collections are less expensive than letters of credit but provide no payment guarantee; the risk of non-payment remains with the exporter.
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