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
Discrepancy If Presentation Is After Expiration Date
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ISP98 - Rule 5
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
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