Dear expert
I hv received docs from beneficiary and present the complying docs to issuing bank for payment on 5/08/10 and after that benef hv received amendment on 6/08/10 which amended condition in l/c.
my question is if benef present docs before received amend ,can issuing bank reject the docs which
do not comply with such amendment ?
amendment
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- Posts: 504
- Joined: Thu Jun 26, 2008 10:33 pm
amendment after presentation
i think you have your answer in article 10 of UCP.
so the credit is unamended.If the beneficiary fails to give such notification, a presentation that complies with the credit and to any not yet accepted amendment will be deemed to be notification of acceptance by the beneficiary of such amendment. As of that moment the credit will be amended.