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LC Has No Shipment Date:Is Last Shipment Date Same As Expiry
Posted: Fri Oct 25, 2013 1:57 am
by ebenson
Just wondering if you answer this question. If LC does not have Latest shipment date and LC states "Documents must be presented within 21 days but within the LC expiry date". Can we consider shipment date to be same as LC expiry date?. Is there any quote in UCP600 or ISBP?
LC presentation time
Posted: Mon Jun 16, 2014 3:09 pm
by RR1972
Documents have to be presented to nominated bank on or before expiry date of the lc.
As per UCP 600 presentation must be made not later than 21 calendar days after the date of shipment.(unless otherwise stated on the LC)
If you can not make the presentation on time, letter of credit will be closed and not be valid any more.
LC Has No Shipment Date:Is Last Shipment Date Same As Expiry
Posted: Mon Jun 16, 2014 6:11 pm
by gegeeee
Hy,
If there is no indication regarding latest date of shipment, it means maximum date of presentation in your case is that expiry date.
.
For example if LC expires on 16/07/2014, shipment occured on 16/06/2014 you maximum date of presentation of documents is 16/06/2014 + 21 days = 07/07/2014. Now another case if LC expire date is same 16/07/2014 and shipment occured on 13/07/2014 docs must be presented on or before the date of expiry. In such case 13/07/2014 + 21 days will not work.
Any comments appreciated.
LC Has No Shipment Date:Is Last Shipment Date Same As Expiry
Posted: Wed Jun 25, 2014 4:28 pm
by habibg
Dear
In case l/c is silent in latest shipment date L/c expiry date will be considered as latest shipment date