The Bank sends OBC documents together with a Collection Instruction to the Drawee’s Bank (Collecting Bank) requesting the Collecting Bank to collect proceeds from the Buyer / Drawee under the concept of Wakalah.
Unless otherwise specified by the Customer in his Collection Instruction, such collections item are governed by the Uniform Rules of Collection (1995 Revision) ICC Publication 522.
The documents required for Outward Bills for Collection-i are: