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Dear friends,

Lets have a look on the case.
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LC states that "Documents should be presented in two lots. If documents are presented more than two lots, USD100.00 will be deducted from each presentation exceeding the 2nd presentation.'..........Partial shipment is allowed.
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Documents are presented in three lots and USD100.00 has been deducted from the third lot accordingly. No discrepancy showed by the Issuing Bank.
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My question is whether third presentation is complied with?

Rgds,

Monir.

Hi Pal,

By your wotds I understood that documents have to be sent to the issuing bank in two mails, even if a document has been presented in more originals, i.e Bill of lading issued in 3 originals, has to be sent 2/3 by first mail and 1/3 by second mail.
I am not english native speaker but this is a general interpretation of the word "lot".
Having written that I think that you have to pay the requested amount only if you have sent/presented the documents in 3 or more mails.

Other comments appreciated

Ciao

As the wording of LC permits part shipment and also indicate a penalty clause for shipment in excess of two lots, the presentation is a complying presentation.

If the third lot documents present within the presentation period, this should be a complying presentation. Even the doucments were sent in 1 lot but L/C called for 2 lots, it is not a discrepancy too.