Complying Docs After Discrepant Presentation

hachem · Post by **hachem** » Thu Apr 03, 2014 1:22 am

Dear experts,

A beneficiary of a L/C presents documents to the confirming bank on 15FebXX
The confirming bank founs that the presentation does not comply on 17FebXX
The beneficiary represents the document on 18FebXX

My query: What is the lates date by which the confirming bank has to determine if the presentation is complying?
20FebXX or 23FebXX

Nb: the expiry date of the L/C is 28Feb

Regards
H Jallouli

picant · Post by **picant** » Thu Apr 03, 2014 11:30 am

Hi Pal,

IMHO, 23 feb., however second presentation must be within 21 days from date of shipment(if not different stated)
Ciao

hachem · Post by **hachem** » Thu Apr 03, 2014 12:43 pm

Hi Picant,

Which article should we refer to?
If the beneficiary correct the discrepant document and re-presents it, should we consider such presentation as a second presentation, so the conforming bank has to determine if the presentation is complying within 5 banking days followin the day of the second presentation?

Regards
H Jallouli

sanjay8176 · Post by **sanjay8176** » Tue Apr 08, 2014 1:00 pm

in my opinion, within 5 days of first presentation, the represenation will not extend the 5 banking days as per UCP