The L/C is opened in cover of the services (teaching of specialists). In accordance of L/C terms the Act on study termination, signed by the beneficiary and the applicant should be presented to the Bank.
We are interested to know, whether it is lawful to equate the date of signing such a document and the date of the transport document, i.e. application of art 43 for presentation of the documents under the L/C in payment of the services.
re art 43 of UCP for DC
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DmitriyDorofeev
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re art 43 of UCP for DC
Without liability/responsibility, if I understand your question correctly, I personally believe the answer must be ‘no’ as Article 43 relates purely to ‘shipment’.
re art 43 of UCP for DC
To quote from article 43:
"every Credit which calls for a transport document(s) should also stipulate a specified period of time after the date of shipment during which presentation must be made in compliance with the terms and conditions of the Credit. If no such period of time is stipulated, banks
will not accept documents presented to them later than 21 days after the date of shipment."
It stands to reason that if a credit does not call for a transport document, article 43 would not apply.
"every Credit which calls for a transport document(s) should also stipulate a specified period of time after the date of shipment during which presentation must be made in compliance with the terms and conditions of the Credit. If no such period of time is stipulated, banks
will not accept documents presented to them later than 21 days after the date of shipment."
It stands to reason that if a credit does not call for a transport document, article 43 would not apply.