Lc expired terms 90 and 10 percent

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
TradeLaporte
Posts: 165
Joined: Sat Nov 24, 2012 12:40 pm
First Name: ART
Last Name: TRATADOLIBRE
Organization: Trade Co
Filter: Two Plus Two =: 4
Location: United States

Lc expired terms 90 and 10 percent

Post by TradeLaporte » Wed Jun 09, 2021 11:23 am

Dear members

The lc has expired about 90 days ago , customer request to present in approval documents will you consider the presentation to follow any of terms of payment I.e. indicate if is for 90 percent or 10 percent of the lc
Your comments appreciate it

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Re: Lc expired terms 90 and 10 percent

Post by picant » Wed Jun 09, 2021 2:06 pm

Hi Pal,

IMHO, it depends on the l/c wording, the deferred payment for 10% may be interpreted included or excluded regarding the expiry date.
If excluded and it is necessary a new document presentation, the credit must indicated a longer expiry date.
Other comments appreciated
Ciao

Post Reply