Art 2 and 16

DanielD · Post by **DanielD** » Fri Mar 19, 2010 12:00 am

Under UCP 600, could you tell me if a presentation made after the expiry date is a discrepancy (see ISP 5.04)
Thanks
Daniel

GlennRansier_ · Post by **GlennRansier_** » Fri Mar 19, 2010 12:00 am

In a general sense, yes and no. One an LC has expired, it in essence, ceases to exist.

NigelHolt · Post by **NigelHolt** » Sun Mar 21, 2010 12:00 am

My understanding is also that after expiry the credit ceases to exist and therefore the issuing and confirming bank's are -for example- released from their Article 16 obligations in respect of any documents presented after expiry. Therefore, the bank is not obliged to examine the documents for compliance let alone send an Article 16 compliant refusal notice.

[edited 3/21/2010 9:21:45 AM]

DanielD · Post by **DanielD** » Fri Mar 26, 2010 12:00 am

Glenn, Jeremy,

Thank you

Daniel