LC discrepancies in second presentation

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
Taher
Posts: 3
Joined: Sun Mar 22, 2020 7:36 am
First Name: Taher
Last Name: Khai
Organization: PTQI
Filter: Two Plus Two =: 4
Location: U.K.

LC discrepancies in second presentation

Post by Taher » Mon Mar 30, 2020 11:59 pm

Hello everyone

Quick question please: if I present my documents and the bank raises discrepancies that you can’t resolve within the 5 days of the bank and I ask for my documents to be returned so I can correct the documents and present them again within the 21 days. Does the bank have the right to raise other discrepancies that I didn’t raise in the first presentation on documents that remained unaltered in the second presentation.

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Re: LC discrepancies in second presentation

Post by picant » Fri Apr 03, 2020 10:42 am

Hi Pal,

no, the nominated bank may state discrepancies only in the corrected documents only, if all documents
will be presented within the terms and conditions of the l/c.
Other comments appreciated
Ciao

Post Reply