ICC Digital Library Forum

Hi folks,
a letter of credit is available by negotiation with any bank, but the payment will only be effected in any case at the counters of the L/C opening bank (clause upon receipt of creditconform documents at OUR counter we shall remit....) and the place of expiry is in beneficiarys country.
The beneficiary wants to present the documents directly to the L/C opening bank which is covered by art. 6.
Must the beneficiary present then the documents within credit validity at the counters of the opening bank and what about the presentation period as the place of expiry is beneficiarys country? Thank you in advance for your suggestions.
best regards
GerhardH
[edited 11/8/2007 3:52:17 PM]

Gerhard,

Yes, the bnf. must present the documents to the opening bank within the credit validity. It is in Upskill: "The beneficiary may present directly to the issuing bank, but within the expiry date and last day for presentation as stated in the credit"
Maybe it is also in the
Commentary?
Regards
Daniel