ACCEPTANCE OF AMENDMENT
Posted: Wed Feb 11, 2009 12:06 am
Even though Article 10C of UCP 600 states that amendment will only be deemed accepted when the beneficiary writes to confirm this, or presents documents that conforms with this, the applicant is at confusion most of the time as to whether his amendment has been accepted or not.
I am thinking of something, that is putting a cluase in the LC instrument that if amendment is not rejected within 12 days from the date of issuance, it is deemed to be accepted.
How will this impact on the provision of UCP600?
I am thinking of something, that is putting a cluase in the LC instrument that if amendment is not rejected within 12 days from the date of issuance, it is deemed to be accepted.
How will this impact on the provision of UCP600?