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Hi All,

We have the following situation:

Documents are presented on the latest date for presentation (also the expiry date).
We give notice of refusal, insurance certificate not presented and second day we received the document, which is dated after the expiry date but within the 5 days allowing for checking.

Do you consider a discrepancy that the document is dated after the expiry date of the L/C or we can send the docs to the Issuing bank certifying that the document have been presented in the allowed time frame of the L/C.

Are we covered by article 14 b and 29 b

Many thanks,

Hi Pal,

five days to refuse, but documents must be presented in time.
I think that beneficiary must ask your insurance agent to provide a compliant documentsì.
Other comments appreciated
Ciao

Hi,

In my opinion,
Documents must be presented, in any case, within l/c validity. 5 days period is for the nominated/issuing bank for document checking and does not allow any presentation after l/c expiry date.

29b cannot be applied to this case.

My opinion: insurance could be dated anytime, provided it clearly indicates by addition or note that coverage is effective from a date not later than shipment date. If the Insurance document meets this condition, then it has no discrepancy.

Art 14 c. A presentation including one or more original transport documents subject to articles 19, 20, 21, 22, 23, 24 or 25 must be made by or on behalf of the beneficiary not later than 21 calendar days after the date of shipment as described in these rules, but in any event not later than the expiry date of the credit