Best Trade Solution

what is the rationale of having the place of expiry at the counters of the Beneficiary bank or Applicant bank? thanks

For short, there are two important things to consider when choosing one place of expiry or another :
1. The place of expiry is usually the place of presentation which in case of benef's country he can get advantage of:
- more time to present documents (if credit expires at issuing bank counters benef has to consider a couple of days before expiry date for presenting /dispatching docs so as the they would timely reach to issuing bank on or before such expiry date
- eliminating risk of credit expiration when docs are delayed in transit from benef's bank to issuing bank
- benefs and negotiating bank can benefit of provisions of art.35 - docs lost in transit
2. The applicable law in case of any dispute is generally the place of payment. Consequently, the jurisdiction of a court for a credit available with a nominated (benef's) bank is the country of that nominated bank.

it should be the expiry place at the ben's country for their presentation of docs