Calculations for collection

Calculations on collection is a banking operation by which a bank (issuing bank) on behalf of and for the account of the client on the basis of settlement documents will take steps to obtain payment from the payer. For the settlement of collection issuing bank has the right to involve other banks (nominated bank).
The calculations are carried out for collection on the basis of payment requests, the payment of which can be made by order of the payer (with acceptance) or without his orders (without acceptance), and collection orders for which payment is made without the order of payers (without recourse).
Payment requests and collection orders imposed recipient of funds (recoverer) to the payer's account via bank serving the payee.
The bank also transferred the settlement documents listed in the register referred for collection of payment documents. Registry is made in two copies, it may be included at the discretion of the recipient of funds (the claimant) payment requirements and (or) order.
The first copy of the register is made by two signatures of persons authorized to sign the settlement documents, and stamp.
When receiving payment for collection requirements, collection orders issuing bank checks the compliance of the settlement document prescribed form form, completeness of all details provided by the blank, matching the signatures and seals recipient of funds (the claimant) samples specified in the card with specimen signatures and seal, and and the identity of all copies of settlement documents. After checking the correctness of filling on all copies of settlement documents taken to stamp of the issuing bank, the date of receipt and signature of the artist. Missed documents are deleted from the registry referred for collection of payment documents and returned to the payee, the amount and the amount of the settlement documents in the register are corrected. All corrections and both copies of the registry certified by the signature of the responsible officer of the issuing bank.
Executive in charge of the executing bank shall monitor the completeness and correctness of filling out details of the settlement documents, except for the verification of signatures and seals recipient of funds (the claimant), as well as checks on all copies of settlement documents the stamp of the issuing bank and the signature of the responsible officer. Settlement documents issued in violation of, non-refundable, while in the log entry is made with the date and reason for the return.
Payment settlement documents produced upon receipt of funds to the account of the payer in the order established by the legislation. Allowed partial payment payment requests, collection orders, which are on file for off-balance sheet "Settlement documents not paid in time." Partial payment is payment orders in a manner similar to the procedure of partial payment of the payment order, except for the level of partial payment.
In the case of non-performance or improper performance of the customer's order to obtain payment on the basis of settlement documents issuing bank is liable to him in accordance with the law. In the case of non-compliance by banks requirements for the verification of settlement documents they are responsible for damages arising out of the execution wrongfully exposed payment requests, paid without acceptance payers or collection orders.
There are several types of collection operations. Simple (pure) collection - the operation for which the bank agrees to get money from a third party on the basis of the payment request is not accompanied by commercial documents and exposed by the client through the bank "
Documentary (or commercial) collection - the operation as a result of which the bank must submit to a third party resulting from the firm-client documents, usually tovaroraspredelitelnye, and give them to that person only against payment.