Dear sir,
Bank A issued a letter of credit in favor of beneficiary in the same country. however over a dispute between the applicant and the beneficiary, the applicant sue the beneficiary. the court put an injunction on all the related transaction including the letter of credit issued by bank A. the beneficiary did not make any presentation till this point. by the time the court make decision and ultimately judge in favor of the beneficiary, the credit expired.
my question, can the beneficiary make presentation now or is this is a force majeure condition.
Court Oder and Force Majeure
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- Joined: Thu Jun 26, 2008 10:33 pm
force majeure
this is a very unusual case. anyway, a force majeure case in my opinion. the credit expired utilized. other comments appreciated