Search found 2 matches
- Tue May 18, 2010 1:00 am
- Forum: UCP 600
- Topic: Deferred Payment L/C restricted with issuing bank
- Replies: 18
- Views: 10789
Deferred Payment L/C restricted with issuing bank
Ok! Agree! In this situation beneficiary only has the right to claim delayed payment and penalties.
- Fri May 14, 2010 1:00 am
- Forum: UCP 600
- Topic: Deferred Payment L/C restricted with issuing bank
- Replies: 18
- Views: 10789
Deferred Payment L/C restricted with issuing bank
I do not agree with above. You are protected by UCP, because issuing bank has accepted documents and has to pay on due date. So, if your bank wishes to discount you can do so. If issuing bank does not pay on due date you can claim payment with penalties from him because of delay.