A l/c has been issued on 040813, stating latest date of shipment 041015 and expiry date 041105. (period for presentation docs is 21 days) An amendment has been issued on 041022, extending latest date of shipment to 041130 and expiry date to 041221.The beneficiary presented documents on 041027 with.b...

We frequently receive L/C's by swift MT700 from various egyptian banks.
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As per SWIFT standards the L/C's are automatically subject to UCP 500 rules.
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Isn't it a contradictionary when the additional conditions shows an exclusion of one or more articles of UCP 500?