Without regard to country of issuance - we continue to see the LC business being 'dumbed down' to a pure clerical status and decisions being made by fear of litigation.
ICC Opinions are consistent in stating that a waiver of an article must be explicit - I would NOT say this LC was explicit in varying the 21 days and therefore the documents must be presented within 21 days and within the validity of the credit.
PRESENTATION PERIOD
PRESENTATION PERIOD
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 shipment is acceptable'. This gives room for doubt that docs can be presented after expiry of Lc?