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transport document prior to LC issue date

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Tue, 09/07/2010 - 03:58
santoshp
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Dear Expert,

we as a applicant bank, can we remit the payment if the transport document issued prior to lc issue date? please advise, which article of UCP 600 govern this issue? shall we quote the clause as "TRANSPORT DOCUMENTS ISSUED PRIOR TO DOCUMENTARY CREDIT OPENING DATE AND/OR PRIOR TO AMENDMENT ON CREDIT VALUE IS NOT ALLOWED AND PAYMENT SHALL NOT BE EXECUTED ON SUCH CASES." under field 47.

Regards,

 

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Tue, 09/07/2010 - 05:17
#1
Abrar
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Joined: 03/12/2009
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pre-LC dated documents

There is no preclusion to presenting documents dated earlier than the LC date, unless the LC specifically prohibits.

However, as an issuing bank, you are at liberty to insert such clauses (as you mention) into the LC, and thereby restrict pre LC dated documents        

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