Extending Expiry Date Of LC
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milesw319
- Posts: 1
- Joined: Mon Mar 07, 2016 10:02 pm
- First Name: Miles
- Last Name: Willey
- Organization: NASA Data Systems
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Extending Expiry Date Of LC
We are trying to extend the expiry date on an LC for an additional 90 days from current expiry date 2nd April 2016. However issuing bank states that the expiry will now be 90 days from todays date 7th March 2016) is this correct or should they extend from the 2nd April 2016?
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
L,ocal laws, perhaps....
Hi Pal,
it will depends on the bank policy, or some domestic rules......
Other comments appreciated
Ciao
it will depends on the bank policy, or some domestic rules......
Other comments appreciated
Ciao
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Navi
- Posts: 362
- Joined: Mon Jun 23, 2008 4:17 pm
- First Name: Olcay
- Last Name: Özcan
- Organization: Bank
- Filter: Two Plus Two =: 4
- Location: Turkey
Possible...
Hi,
I assume that you want to extend the validity of LC to 1 July 2016 (i.e. 90 days after 2 April 2016).
In my oinion there maybe misunderstanding of issuing bank since I see no reason to refuse such claim. Moreover, you do not have to define extension as "XX days after...". You may extend expiry to a definite date also.
I assume that you want to extend the validity of LC to 1 July 2016 (i.e. 90 days after 2 April 2016).
In my oinion there maybe misunderstanding of issuing bank since I see no reason to refuse such claim. Moreover, you do not have to define extension as "XX days after...". You may extend expiry to a definite date also.