Hi everybody,
May i know what is your understanding about stale documents ? Is it approved by ICC ?
Regards,
Shahed
Toronto
Stale documents
-
ThuHoangAnh_
- Posts: 58
- Joined: Fri Apr 05, 2019 5:28 pm
Stale documents
Hi Shahed,
In L/C transaction, the phrase “stale documents” is commonly understood as the documents presented later than 21 calendar days after the date of shipment.
ISBP para. 21 says the expression “stale documents acceptable” should not be used as they are not defined in UCP 600. If used in LC, its meaning should be made apparent. If not, it has the following meaning under ISBP: Documents presented later than 21 calendar days after the date of shipment are acceptable as long as they are presented no later than the expiry date for presentation as stated in the L/C.
Best regards,
N.H. Duc
[edited 1/26/2009 8:19:16 AM]
In L/C transaction, the phrase “stale documents” is commonly understood as the documents presented later than 21 calendar days after the date of shipment.
ISBP para. 21 says the expression “stale documents acceptable” should not be used as they are not defined in UCP 600. If used in LC, its meaning should be made apparent. If not, it has the following meaning under ISBP: Documents presented later than 21 calendar days after the date of shipment are acceptable as long as they are presented no later than the expiry date for presentation as stated in the L/C.
Best regards,
N.H. Duc
[edited 1/26/2009 8:19:16 AM]