UNDERSTANDING THE REJECTION OF PRESENTED DOCUMENTS
PERIOD IN UCP 600
UNDERSTANDING THE REJECTION OF PRESENTED DOCUMENTS
PERIOD IN UCP 600
Author(s): BUI Le Thuc LinhSubject(s): Law, Constitution, Jurisprudence
Published by: Universitatea Nicolae Titulescu
Keywords: Uniform Customs and Practice for Documentary Credit; rejection; a notice of rejection; documents; letters of credit.
Summary/Abstract: This article covers aspects relating to the documentary rejection period in letters of credit afterthe examination period in the Uniform Customs and Practice for Documentary Credits. After brieflyoutlining the primary purposes and functions of letters of credit, the author will discuss the time framefollowing the bank's determination that the submitted documents do not meet the criteria of the letterof credit, including consulting with the applicant, the window for issuing a rejection, and post-noticeobligations of the bank.
Journal: LESIJ - Lex ET Scientia International Journal
- Issue Year: XXX/2023
- Issue No: 1
- Page Range: 34-46
- Page Count: 13
- Language: English, Romanian
