Even though Article 10C of UCP 600 states that amendment will only be deemed accepted when the beneficiary writes to confirm this, or presents documents that conforms with this, the applicant is at confusion most of the time as to whether his amendment has been accepted or not.
I am thinking of something, that is putting a cluase in the LC instrument that if amendment is not rejected within 12 days from the date of issuance, it is deemed to be accepted.
How will this impact on the provision of UCP600?
ACCEPTANCE OF AMENDMENT
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mando@vsnl.net
- Posts: 34
- Joined: Sun Feb 15, 2009 11:08 am
Acceptance of Amendment
As per Article -10 c , It never says rejection of amendment to LC. However acceptance or rejection of amendment determine at time of compliance of documents.
If any such condition contains in amendment that will be disregarded by same articles.
If any such condition contains in amendment that will be disregarded by same articles.
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iLC
- Posts: 504
- Joined: Thu Jun 26, 2008 10:33 pm
duplicate question
i think we have discussed the topic earlier. i would request everybody to post a topic once so that new member dont get confused as well as me :lol: