What are the International rules covering documentary draft collections known as?

The International rules covering documentary draft collections are known as the Uniform Rules for Collections (URC). These rules are established by the International Chamber of Commerce (ICC) and provide a standardized framework for the handling of documentary collections in international trade. Documentary drafts are a mechanism used to facilitate payment for goods by allowing banks to act on behalf of sellers and buyers. The URC ensure that all parties involved in the collection process are aware of their rights and obligations, thereby enhancing consistency and efficiency in international transactions.

The other options are specific to different areas of law and regulation. The International Maritime Code (IMC) pertains to shipping and maritime laws, while the Uniform Commercial Code (UCC) is a set of laws that govern commercial transactions in the United States. The Export Control Regulation (ECR) deals with the rules governing the export of sensitive goods and technology. None of these options provide the specific guidelines related to documentary drafts, which is why the URC is the correct answer.