period for presentation

edilee · Post by **edilee** » Mon Jan 25, 2010 2:56 am

there is a simple question
latest date of shipment :01.01.2010
expiry date :01.01.2010
period for presentation : 15 days from shipment date
question
what is the latest date for presantation if shipment realized on 01.01.2010
thanks

subha1981 · Post by **subha1981** » Mon Jan 25, 2010 2:12 pm

Hi Edilee

The latest shipment date as per your example is 01.01.2010, because there cannot be any presentation after the expiry of the credit.

Rgds
Subha

edilee · Post by **edilee** » Mon Jan 25, 2010 11:30 pm

thank you Subha
what happens if there is no any indication about
presenation must be done before expiry
there is a conflict I think L/C expires on 01.01.2010 but presentation period NOT

subha1981 · Post by **subha1981** » Wed Jan 27, 2010 1:28 pm

Hi Edilee

Nope. Whether the LC specifies regarding the presentation or not, when the credit itself is expired, then there cannot be any valid presentation after that.
I hope i made myself clear.

Rgds
Subha

Trang · Post by **Trang** » Wed Jan 27, 2010 5:27 pm

In any cases, the documents must be presented not later the expiry date.
Hope you have a clear answer.

iLC · Post by **iLC** » Wed Jan 27, 2010 9:20 pm

UCP article 14

c. A presentation including one or more original transport documents subject to articles 19, 20, 21, 22, 23, 24 or 25 must be made by or on behalf of the beneficiary not later than 21 calendar days after the date of shipment as described in these rules, but in any event not later than the expiry date of the credit.