I don't see any problem in presenting documents after 21 days from date of shipment so far it is within the Lc validity as clause states. In fact this clause is safer than the one we very often note in the 'Oil/Crude' related Lcs on regularly ie.' Documents presented after 21 days from the dt of shi...

We negotiated an export documents on 26May09 covering shipment dated 15May09. The last date of shipment as per Lc was 10May09.On the date of negotiation we received amendment dated 25May09 extending the shipment date to 30May09. Accordingly we negotiated the documents on clean basis. Now we have rec...

We received an Export Lc available by Negotiation and to be confirmed by us. We advised the Issuing Bank to amend the Lc with Draft to be issued on Issuing Bank to comply with article 2 of UCP600. The issuing Bank (a reputed international bank) refused stating it is 'the practice' to issue Draft on ...

We presented documents under Usance Export Lc to Issuing Bank as it was available with them on acceptance basis. The documents had many discrepancies including in draft, which was drawn on us instead of Issuing Bank. The issuing bank confirmed acceptance of the discrepant documents. Now, in case, Is...

If both, Draft on Confirming Bank or Issuing Bank, is acceptable, why in practice, Draft on Confirming bank is preferred? From Legal point of view which draft is safer for Confirming Bank?

We had issued an Import Lc available by negotiation, authorising the advising Bank to add their confirmation and the Draft to be drawn on Confirming Bank. The advising Bank agreed to Confirm the Lc but wanted the draft to be drawn on us (i.e. Issuing Bank). Whether the advising Bank's request is in ...

Lc issued with Incoterm 'CPT Dubai' and requires presentation of Truck Consignment Note stating 'Freight Prepaid upto Dubai'.
The TCN presented states 'Freight Prepaid' and 'CPT Dubai'. Will it be a discrepancy?

As per Lc terms documents issued prior to Lc Issue date is not acceptable. The Lc is issued on 6th January 2009. All documents shows issue date of 6th January 2009 or later including BL which shows issue date as 6th January 2009. However, the BL shows on board date as 5th January 2009 Whether it wil...