Discrepancy If Presentation Is After Expiration Date

[Kaash]

ISP 98
Rule 5.04 Notice of expiry- states that
Failure to give notice that a presentation was made after the
expiration date does not preclude dishonour for that reason.

Does this mean that in a Standby we need not raise discrepancy if presentation is after expiration date

[Westley]

Hello Kaash,

Your understanding is correct. ISP98 provides for the same. However, I would still send out the discrepancy advise.

All banks have a process to reply back to incoming requests and correspondence, even if the reply is in the negative.

Westley