In documentary credits, it is not uncommon to see a presentation period that appears longer than the time remaining before the expiry date of the credit. At first glance, this may seem contradictory and sometimes leads to confusion between applicants, beneficiaries, and even junior trade finance staff. The key point, however, is that under UCP 600, documents must comply with …

QUESTION Dear Sir, Just a simple query as it has been kind of confusing for me. Let’s say: When pre-shipment is allowed and the L/C term in field 48 mentions: “21 days from shipment date” (as the latest presentation period), Can we quote a discrepancy on the grounds of late presentation? If pre-shipment is allowed and the documents are presented …