ICC Digital Library Forum

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

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

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]

Glenn, Jeremy,

Thank you

Daniel