ACCEPTANCE OF AMENDMENT

[okeyxtra]

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?

[cristiand969]

It will simply be disregarded

[shahriar]

in my opinion, it will be a effective one. UCP 600 article 10

f. A provision in an amendment to the effect that the amendment shall enter into force unless rejected by the beneficiary within a certain time shall be disregarded.

so it will be disregarded if its in amendment. but if such clause is included in LC, that will be a working one by virtue of article one which says

The uniform custom and practice for documentary credit, 2007 revision, ICC publication no. 600 (“UCP”) are the rules that apply to any documentary credit (“Credit”) (including the extent to which they may be applicable, any standby letter of credit) when the text of the expressly indicates that it is subject to these rules. They are binding on all parties thereto unless expressly modified or excluded by the credit.

please note article one especially mentions credit, not amendment and an amendment of the LC is not a working one unless accepted by the beneficiary. thats why UCP 600 says that such provision in the amendment will be disregarded

[okeyxtra]

It argued this point with someone and i think UCP respects terms and conditions mentioned in credits