Best Trade Solution

Hi all,

We have received documents under LC on 22/05/2014 whose expiry date was 21/05/2014 at the counter of negotiating bank.

Negotiating bank has sent the documents on 21/05/2014.

As per condition mentioned in the LC, "Documents must be presented to issuing bank before the expiry of LC. If documents presented after the expiry, issuing bank bears no responsibility ".

Please suggest what should be the course of action? are the documents discrepant?

Hi Pal,


the l/c was valid at negotiating bank counters, but a clause limited the further presentation to the issuing bank.
IMHO, the issuing bank worded the l/c in ambigous way and shoul bear the risk of a complying presentation.
I dare say discrepant is not valid.
Other comments appreciated
Ciao