Best Trade Solution

Hi

If beneficiary presents documents on 30-Jun-XXX which is the last date of expiry. L/c is available with negotiating bank by acceptance and docs are presented to negotiating bank on the last day of the expiry and negotiating bank examines the documents on 02-July-XXX and reverts with discrepancies to beneficiary. Now does the beneficiary has the option to resubmit the documents or he cannot. If he resubmits then the L/c would have been expired please advise?

Hy Arun,

First i guess there will be nominated bank instead of Negotiating Bank. If LC is avaialable with nom Bank by negotitaion thant draft will be drawn on issuing Bank and issuing bank will accept it.
.
Second Beneficiary will not have any time to resubmit that docs, because Lc has aready expired. If amendment is done regarding prolongation yes, bene will have time to resubmit but otherwise Nooooo.
.
Best
Gega.

Hello Arun,

I agree with Gegee. Compliant documents have to be presented on or before the expiry date.

Westley