Best Trade Solution

Hi All,

we have received the LC today 15DEC16 but LC issue date is 04JUL16, is there any concern.

if yes (y)
if no (y)

thanks

regards
sudheer

Clearly you should ask the advising bank to find out if there is any typing error. Actually the advising bank should have noticed it before it advises. The LC issue date should be the date when the issuing bank issues the LC.

hi,

one more question, is there any problem if issuing bank issue an LC on 04JUL16 (due to some reasons they are transmitted to advising bank), later they have has tramistted to advising bank on 15DEC16. but expiry date is 20FEB17.

Why we need to check with issuing bank regarding issue date.

please advise

thank you

But nevertheless the LC is still operable

Its falls under due diligence purview , lc is operative if the lc is not expired.

there may be some typing error, you can ask for clarification from LC issuing bank.

Hi All,

We have sent swift to issuing bank for clarification. But we have received reply from issuing bank is that as per applicant request issue date same.

As per my view if issuing bank issue an LC., as a advising bank need to check expiry date not for the issue date.
Because issuing bank can issue the LC at any date and month.

please advise if I am wrong.

thank you.

regarding issuance date ,
it will cause for the beneficiary not to benefit from 100 % of the validity of the l/c
the question to be asked if the beneficiary is okay with such thing
and if he will be able to issue required documents and meet the l/c terms
if not , he should request an extension of the validity
bet regards

Hi,
In MT 700, issue date is not a mandatory field, so in case of not providing the issue date, the transmitting date is deemed to be the issue date.

But in your case, there may be some typing error, you can ask for clarification from LC issuing bank.

Regards,
Shafique