URC 522: ICC Uniform Rules for Collections – Supplement for Electronic Presentation (eURC) Version 1.0
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Banking & finance
The ICC Banking Commission provided a press release announcing the launch of a Working Group to anticipate and accompany the digitalisation of trade finance. One core activity was to evaluate existing ICC rules in order to assess e-compatibility and ensure they are ‘e-compliant.
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As part of its efforts to promote a paperless business world the ICC Banking Commission is continuingly promoting the use of its eRules and amongst them eURC which are meant to rule the handling of collections process in a digital environment. The eURC is regarded as the necessary addition to the URC 522 in a digital form. It avoids lots of the struggles involving classic paper documents, allows a quicker and safer way to run trade finance operations.
The eURC is available for download on our ICC Knowledge2GO but we also invite you to have a look at the Supplement to the commentary on eUCP and eURC which will give you a complete outlook on ICC eRules.