Extension of Confirmation of Standby LC

General questions regarding UCP 600
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Shahed
Posts: 168
Joined: Fri Apr 05, 2019 5:26 pm

Extension of Confirmation of Standby LC

Post by Shahed » Fri Feb 09, 2018 9:33 pm

L/C contained evergreen clause renewing, without amendment, year after year.
Confirming bank initially confirmed the L/C with the same terms, i.e. year after year.
Now the Confirming Bank wants to extend it confirmation only for six months from the c
asamaha
Posts: 197
Joined: Fri Apr 05, 2019 5:16 pm

Extension of Confirmation of Standby LC

Post by asamaha » Tue Feb 13, 2018 12:58 pm

It must seek both issuing bank and beneficiary's acceptance to limit the period of confirmation to six months only.
Regards
Antoine Samaha
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