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dear all,

the document presented under a letter of credit was found discrepant and after 15 days the document was finally taken up by the applicant. however the LC was a confirmed one and the confirming bank debited out account. can we claim interest for this 15 days. the lc was available with the confirming bank by sight payment

yes you can claim interest. UCP 600 article 16 g is applicable here

g. When an issuing bank refuses to honour or a confirming bank refuses to honour or negotiate and has given notice to that effect in accordance with this article, it shall then be entitled to claim a refund, with interest, of any reimbursement made.