Article 875. Execution of a collection order.
1. In the absence of any document or inconsistency of documents on external features of a collection order, the performing bank is obliged to immediately notify the person from whom the collection order was received. In case of failure to eliminate the indicated defects, the bank has the right to return the documents without execution. 2. Documents shall be submitted to the payer in the form in which they are received, with the exception of marks and inscriptions of banks required for the execution of a collection operation. 3. If the documents are subject to payment upon presentation, the executing bank must make a presentation for payment immediately upon receipt of a collection order. If documents are due for payment at another time, the executing bank must submit documents for acceptance immediately upon receipt of a collection order to receive the payer's acceptance, and the payment request must be made no later than the day on which the payment period specified in the document comes. 4. Partial payments may be accepted in cases where this is established by bank rules, or with a special permit in the collection order. 5. The received (collected) amounts must be immediately transferred by the executive bank to the issuing bank, which is obliged to credit these amounts to the client’s account. The executing bank is entitled to withhold from the collected amounts the remuneration due to him and the reimbursement of expenses.
Links to other articles of chapter 46. Calculations: