Uniform Rules for Collections (URC)
(banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A).
The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322.
See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC.