REVISED DOCUMENTS MUST BE RE-PRESENTED WITHIN THE PERIOD FOR PRESENTATION AND BEFORE THE EXPIRY DATE OF THE LC QUESTION Dear Mr. Old Man, As per ICC Opinion R 819, the beneficiary had until expiry date of LC to replace or correct the documents and/or presentation period. The issuing bank is obliged to honour when upon re-submission, documents are determined to be compliant. The revised documents constituted a new presentation requiring examination as per art. 14 b. Is the … Read More
PERIOD FOR PRESENTATION QUESTION Hello Sir, I read your articles online and your answers to some questions regarding the L/Cs. I have a question: If the shipment transit time is short, like 4-5 days and field 48 says 21 days to present the documents from the date of the BoL, we lose free 7 days’ time of port to release the shipment and … Read More