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DRAWN ON A FOREIGN BANK/PAYABLE
IN U.S. DOLLARS THROUGH A FOREIGN
BANK.— The DO endorses these instruments and
completes a single SF 215 for the total amount, leaving
Block 2 blank. (Block 2, Date Presented or Mailed to
the Bank, will be completed by the bank.) The DO
mails the endorsed instruments and the SF 215 to the
Citibank, Global Check Clearing Collections, Hyde
Park, New York. Upon receipt, Citibank completes
Block 2 of the SF 215 and immediate y credits the total
amount to the Treasury account. Citibank then returns
a confirmed copy of the SF 215 to the DO.
NOTE: It may take several weeks for Citibank to
collect the proceeds of these instruments. If Citibank
determines that the shipment contains uncollectible
instruments or assesses collection charges (also called
lifting fees), the DO may later receive an SF 5515. We
discuss these fees in a subsequent paragraph.
DRAWN ON A FOREIGN BANK/PAYABLE
IN FOREIGN CURRENCY.— The DO must also
endorse and forward these instruments to Citibank, but
the deposit procedure is different. A separate SF 215 is
required for each foreign currency instrument. (Again
Block 2 of the SF 215 is left blank. Also, Block 4,
Amount, is left blank.) Each SF 215 must show the
following information:
The name of the bank on which the instrument
is drawn
The medium of exchange
The foreign currency amount
The date of the instrument
Upon collection of the instrument, Citibank will
enter the date and U.S. dollar amount on the SF 215 and
return the confirmed copy to the DO.
UNCOLLECTED
CHECKS
AND
COLLECTION CHARGES.— As mentioned
previously, Citibank may find some checks on foreign
banks to be uncollectible, It may also assess charges for
processing some of these instruments. The U.S.
Treasury has established a minimum amount per check,
Figure 5-7.—Sample DD Form 2663, Foreign Currency Control Record (front).
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