Best Trade Solution

Hi experts
I opened LC its terms as follows:
44c: 20.March 2020.
31D: 20.March 2020 Roma.
I instructed the bank to cancel the LC on 21.03.2020 but on 24th march 2020 the bank released the LC amount for beneficiary via the advising bank without our instructions. Is this right ?

The beneficiary has presented the docs on 18.03.2020 during the expiry of LC.

Could I refuse to pay the documentary credit after the expiration date? Hope the urgent statement.

Thanks

Hi Pal,

no, the credit was available in Rome untill 20.03.2020, so presentation on 18.03.2020 was correct
The italian bank had 5 days to check the document and send them to issuing bank.
If no otherwise discrepant, documents must be paid.
Ciao

Dear Mr.picant
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I am so glad to be here with professional trader like you.
Many thanks and regards,