Article

Note: The Issuer of a Documentary Credit may, whatever it has decided for a previous credit, refuse pay against documents which appear to be not in compliance with the terms of the credit, even if the Applicant, approached for a waiver of the discrepancies in accordance with UCP500 Article 14(c), was in favor of the payment.

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* Jean STOUFFLET is Professor emeritus at the University of Clermont-Ferrand (France).

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