Letter of Credit Forum

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Dear Fena,

its very easy to understand. Sub Article 6.a UCP600 "A credit available with a nominated bank is also available with the issuing bank."

also Sub Article 6.e "a presentation by or on behalf of the beneficiary must be made on or before the expiry date."

Now you can easitly understand that issuing bank never refuse your documents for that reason.

Dear friend,

Swift instructed the banks advising L/C freely negotiable to add something in their communication, one is that the original L/C must be presented when availment is made.

Concerning direct presentation by beneficiary, Commentary on UCP 600, broch 680, is clear at art 6, a, stating that is general rule that whilst a documentary credit may be made available with nominated bank, it is always available with the issuing bank. As result, a beneficiary always has the right to present documents either to the nominated bank or directly to issuing bank:

Is the issuing bank that must ascertain that all is in order, by, e.g., requiring the original l/c advice along with documents.

That's all folk

Ciao