Rules & Standards check0 / 1 answered · 0 correct
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Are URR 725 the rules for the commercial sales contract?
How reimbursement rules fit underneath documentary credits.
URR 725 are ICC rules for bank-to-bank reimbursements under documentary credits.
They apply when the reimbursement authorization expressly states that it is subject to URR 725.
The LC may be governed by UCP while the reimbursement authorization is governed by URR; each addresses a different relationship.
They provide common rules for authorizations, reimbursement claims, expiry, authentication and responsibilities.
Are URR 725 the rules for the commercial sales contract?
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