UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS URR725 APPROVED ON 15-16.04.2008. IN FORCE SINCE 01/10/2008 A. GENERAL PROVISIONS AND DEFINITIONS Article 1. Application of URR The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits ("rules"), ICC Publication No. 725, shall apply to any bank-to-bank reimbursement when the text of the reimbursement authorization expressly indicates that it is subject to these rules. They are binding on all parties thereto, unless expressly modified or excluded by the reimbursement authorization. The issuing bank is responsible for indicating in the documentary credit ("credit") that reimbursement is subject to these rules. In a bank-to-bank reimbursement subject to these rules, the reimbursing bank acts on the instructions and under the authority of the issuing bank. These rules are not intended to override or change the provisions of the Uniform Customs and Practice for Documentary Credits. Article 2. Definitions For the purpose of these rules, the following terms shall have the meaning specified in this article and may be used in the singular or plural as appropriate: a. "Issuing bank" means the bank that has issued a credit and the reimbursement authorization under that credit. b. "Reimbursing bank" means the bank instructed or authorized to provide reimbursement pursuant to a reimbursement authorization issued by the issuing bank. c. "Reimbursement authorization" means an instruction or authorization, independent of the credit, issued by an issuing bank to a reimbursing bank to reimburse a claiming bank or, if so requested by the issuing bank, to accept and pay a time draft drawn on the reimbursing bank. d. "Reimbursement Amendment" means an advice from the issuing bank to a reimbursing bank stating changes to a reimbursement authorization. e. "Claiming Bank" means a bank that honours or negotiates a credit and presents a reimbursement claim to the reimbursing bank. "Claiming Bank" includes a bank authorized to present a reimbursement claim to the reimbursing bank on behalf of the bank that honours or negotiates. f. "Reimbursement Claim" means a request for reimbursement from the claiming bank to the reimbursing bank. g. "Reimbursement undertaking" means a separate irrevocable undertaking of the reimbursing bank, issued upon the authorization or request of the issuing bank, to the claiming bank named in the reimbursement authorization, to honour that bank's reimbursement claim, provided the terms and conditions of the reimbursement undertaking have been complied with. h. "Reimbursement undertaking amendment" means an advice from the reimbursing bank to the claiming bank named in the reimbursement authorization stating changes to a reimbursement undertaking. i. For the purpose of these rules, branches of a bank in different countries are considered to be separate banks. Article 3. Reimbursement Authorizations Versus Credits A reimbursement authorization is separate from the credit to which it refers, and a reimbursing bank is not concerned with or bound by the terms and conditions of the credit, even if any reference whatsoever to it is included in the reimbursement authorization. B. LIABILITIES AND RESPONSIBILITIES Article 4. Honour of a Reimbursement Claim Except as provided by the terms of its reimbursement undertaking, a reimbursing bank is not obligated to honour a reimbursement claim. Article 5. Responsibility of the Issuing bank The issuing bank is responsible for providing the information required in these rules in both the reimbursement authorization and the credit, and is responsible for any consequences resulting from non-compliance with this provision. C. FORM AND NOTIFICATION OF AUTHORISATIONS, AMENDMENTS AND CLAIMS Article 6. Issuance and Receipt of a Reimbursement Authorization or Reimbursement Amendment a. All reimbursement authorizations and reimbursement amendments must be issued in the form of an authenticated teletransmission or a signed letter. When a cr