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Dear Friend,

LC payment payment - 60 days from date of B/L - i.e. Maturity date for payment 15 March 2009.

But LC expired on 12 Feb 2008. How do we define LC still valid or what else.

Thanking you
Pradip Bhavsar

the issuing bank as well as the confirming bank have ultimate liability to effect payment at maturity date provided that the stipulated documents were presented within the credit validity and being found fully complied with lc terms and conditions

Hi friend,

Expiry date should be (in my opinion) defined as expiry date for presentation not for payment. .

Therefore, if presentation made before that date, payment may be later as per LC terms..

Refards