WHEN AN AMENDMENT COME INTO FORCE?

QUERY FROM KHRATHA

UCP600 article 10 section f states that " a provision in an amendment to the effect that the amendment shall enter into force unless rejected by beneficiary within a certain time shall be disregarded". This article is so complecated for me. And I would like to ask you all if you could explain this article with giving an example.

I look foward to seeing your reply.
Thanks and Regards,
Ratha

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ANSWER
When an amendment comes into force

Hi Ratha,

Hereunder are some sample provisions which may be seen now and then in amendments:

# This amendment shall enter into force unless rejected by the beneficiary within 3 banking days after the amendment date.
# This amendment shall enter into force unless the beneficiary gives a notice of rejection of the amendment within 5 banking days after the amendment date.
# This amendment shall enter into force if the beneficiary fails to give a notice of rejection of the amendment within 5 banking days after the amendment date.

As stipulated in the said article, such provisions will be disregarded if they are incorporated in amendments.

Please refer to UCP 600 article 10 (c) to determine when an amendment becomes operative: “The beneficiary should give notification of acceptance or rejection of an amendment. If the beneficiary fails to give such a notification, a presentation that complies with the credit and to any not yet accepted amendment will be deemed to be notification of acceptance by the beneficiary of such amendment. As of that moment the credit will be amended”.

Best regards,
Nguyen Huu Duc …