GLOSSARY
URC 522 (Uniform Rules for Collections)
ICC Publication 522 standardizes documentary collection procedures, defining bank duties when handling D/P and D/A transactions.
URC 522 is the ICC rulebook governing documentary collections, where banks act as intermediaries to release shipping documents against payment (D/P) or acceptance (D/A) rather than guaranteeing payment.
Why it matters
Unlike letters of credit under UCP 600, collections under URC 522 place banks in a facilitator role with no payment obligation. This makes D/P and D/A cheaper but riskier for exporters. Article 9 clarifies that banks bear no liability if a buyer refuses documents or fails to pay.
For operators, URC 522 suits established buyer relationships where credit risk is acceptable. If dishonor occurs, Article 26 requires the collecting bank to notify you promptly so you can instruct on next steps: protest, warehousing, or return shipment. Know your fallback before shipping.