How does L C expire? Is the expiration date shown on L C for help

l c has an expiration date, which refers to the last date to be handed over to the negotiating bank, and it is considered to be expired after this date. In addition, there is a document submitted within xx days after the date of the bill of lading, whichever of the two dates arrives first will be valid on the date that arrives first.

The validity period of the letter of credit is the last time for the letter of credit to take effect, which means that after this date, the bank refuses to accept the negotiated documents.

The submission period of the letter of credit is another time limit, similar to the validity period, the submission period starts from the date of the bill of lading, and the documents must be submitted to the bank for negotiation within the specified submission period, and the documents are invalid if they expire. If not specified, the delivery period shall be 21 days after the date of the transport document, but the validity period of the letter of credit shall not be exceeded.

In other words, even if there is a provision for the submission period, the time limit of the validity period cannot be rushed, and the validity period is the final period.

The validity period of a letter of credit is fixed and cannot be changed unless the issuer asks the bank to change the date. The submission period of the L/C changes with the change of the date of the bill of lading, which causes the date of the bill of lading to be close to the validity period, so it stipulates that the date of the bill of lading cannot be later than the validity period.

In China's export business, it is usually required that the maturity date of the letter of credit is specified within 15 days after the shipment period: documents to be presented within 15 days after b l date but within the validity of the credit

Generally, the letter of credit must show the latest shipment date and the expiration date and location. Once the L/C expires and then the bank documents are submitted, it is necessary to communicate with the customer to modify the date of the L/C. Document requirementsThe general letter of credit has requirements in Lunhong, such as CI, PL, BL, CO and beneficiary certificate or shipping company certificate, etc., The landlord can take a closer look at the terms of your letter of credit, because the requirements of the letter of credit in different countries are different.

When submitting documents, pay attention to the consistency of documents. View the original post

The expired letter of credit has effectively been automatically revoked, and if the buyer still wants to use the letter of credit, they can simply ask the issuing bank to extend the validity of the letter of credit.

At the moment you can only contact the buyer as soon as possible and ask them to extend the validity of the letter of credit and the latest shipping period. In general, it is unlikely that the buyer will change the payment method when the letter of credit is issued, because it costs money to issue the letter of credit.

If the L/C does not specify the L/C, then the beneficiary must submit the L/L within 15 days after the date of the bill of lading (the day is also counted) - for example, the shipment date on the bill of lading is August 20, then the latest date is September 3.

This mainly depends on how it is written on the letter of credit;

If it is after 15 days, it does not include the day of shipment;

If it is within 15 days, it includes the day of shipment;

Generally, the L/C is calculated according to the next day of shipment;

In addition, remind me that these are only theoretical definitions, in fact, in practice, they must have been handed over within 10 days, after all, they must have been handed in one day earlier, and they would get the money one day earlier.

The answer is wrong, and you are right. The person who wrote this book didn't learn math well in the third grade of elementary school. Identification completed.

"From ......From" and "in......Words such as "after" are used to determine the expiration date and do not include the date mentioned.

This is clearly stated in UCP600.

It's up to you.

See this article for a detailed analysis.

You are valid in Hong Kong, and you have provided HSBC with documents that HSBC considers to be in compliance with the L c within the validity period, and you will not be late in submitting the documents when you arrive at CCB Suzhou.

As for the discrepancies, the upstairs has already been mentioned, and it is enough to negotiate with the guest to let him accept the discrepancies with Suzhou CCB.

The letter of credit expires on the day of the day, according to the regulations, the shipping schedule on August 6 must be submitted to the bank at the latest.

The letter of credit says that any bank can negotiate it.

It is estimated that there will be a deduction for late payment of the bill discrepancies.

Since your LC stipulates that the validity period is in HongKong, and the redemption method is freely negotiable LC, then you can submit the documents to any bank in Hong Kong within the document submission period specified by LC and within the validity period of LC.

Since the time of your draft to HSBC has obviously passed the submission period, it must be a discrepancy, so let the customer accept the discrepancy and pay the ransom.

As for when you will arrive at the issuing bank, it has nothing to do with you whether the documents arrive at the issuing bank within the validity period.

Now all you can do is negotiate with your customers.

In case time has passed, let him accept the discrepancies.

I made an order at the bank, and several times the customer knew that the LC had expired, but still issued the bill and still received the payment.

Nowadays, most of the use of letters of credit is just a formality, and the bank is acting according to the customer's wishes, so you don't have to be nervous, the credibility of the buyer and the seller, word of mouth, credit is the most important.

You can apply for the extension of the letter of credit.

30 days l c is a 30-day usance letter of credit.

The 30-day usance letter of credit refers to the issuing bank's commitment to pay the beneficiary when the 30-day period expires under the condition that the beneficiary's documents are consistent, and the starting date of this 30-day can be 30 days after the bill of lading date or 30 days after the date of the bill of lading.

We mainly include acceptance letter of credit and deferred payment letter of credit.

Letter of Acceptance can be divided into:

1) Banker's acceptance letter of credit.

2) Letter of credit accepted by the firm.

The term of the bill after the acceptance of the usance letter of credit is: from the value date of the bill to the date of acceptance and payment. Interest on usance L/C = (amount of bills, interest rate of bills, number of days of bills) (date of acceptance - value date of bills) 360 days.

The key to preventing risks lies in the fact that the issuing bank conducts a comprehensive review of the applicant in strict accordance with its internal rules and regulations

1. Review the qualifications and conditions of the applicant;

2. Investigate the recent business operation status, asset quality and liability status, credit rating, records and reasons for the unpaid foreign exchange of the issued certificate;

3. Review the legality, operating conditions, profits, liabilities and asset liquidity of the issuing guarantor;

4. Understand the beneficiary's credit status, production capacity and past business cooperation, especially for L/C transactions with large amounts, and strengthen the investigation of the beneficiary's creditworthiness. Because the credit of the beneficiary directly affects the success or failure of this business. Some beneficiaries falsify documents to defraud, export goods as shoddy, charge more with less, or collude with importers to defraud banks.

Therefore, it is particularly important to investigate the creditworthiness of the beneficiaries.

No, LC 30 days generally means that from date of bill of lading, that is, 30 days from the date of bill of lading, which is a question of payment term, and the validity period of the letter of credit is two different things. The validity period of the letter of credit will be listed separately on the letter of credit, and it has nothing to do with the latest shipment date, and the latest shipment date will also be listed separately.

l c expiry date is the validity period of the letter of credit.

Regarding the validity period of L/C, there are basically three key timeliness, which should be grasped well:

1.The shipping date, which is the shipping date on the bill of lading, must be shipped before the specified date;

2.Delivery period: before the date after shipment, it must be handed over to the designated bank, generally about 15 days after the shipment period (it must be noted that the documents are subject to the time of delivery, whether it is the issuing bank or the advising bank);

3.The validity period of the letter of credit: generally about 30 days after the shipment period (i.e., let the beneficiary have a reasonable time to submit the documents to the bank after the shipment on time).

The three key time points in the above letter of credit are indicated in the letter of credit and should be strictly observed. If you can't do it, you should apply for modification of the letter of credit in advance.

The date of receipt of a letter of credit is an indefinite date. The date of receipt of the L/C at sight is approximately one month after the submission of the documents to the negotiating bank for negotiation.

The date on which the letter of credit is valid is the expiration date, and on this date, the letter of credit is invalid.

It is not the date of payment, but the deadline for the negotiation of documents.

1. l c expiry date: the maturity date of the letter of credit, not the date of collection. The date of receipt can generally be deduced from the period in l.

2. "l c expiry date" and "deadline for submission of documents and negotiation" are two concepts that cannot be directly equated. If the L/C does not stipulate a deadline for submission, it is generally within 21 days from the date of shipment, but it must be within the validity period of the L/C. If the interval between the transshipment date and the L C Expiry Date is less than 21 days, then the L C Expiry Date should be considered as the "Submission Deadline" (e.g. if the B/L date is June 1 and the L C Expiry Date is June 20, the documents should be submitted by June 20).

Personal opinion, for reference.

l c generally refers to the letter of credit, which refers to a written certificate issued by the bank to the exporter (seller) to guarantee the responsibility of paying the purchase price according to the request of the importer (buyer).

In international activities, the buyer and the seller may not trust each other, and the buyer is worried that the seller will not deliver the goods according to the contract requirements after the advance payment; The seller is also concerned that the buyer will not pay after shipping the goods or submitting the shipping documents. Therefore, it is necessary for two banks to act as guarantors for both the buyer and the seller, to collect and submit documents on behalf of the buyer, and to replace commercial credit with bank credit.

l c is the letter of credit; Letter of credit; Certificate of credit is the most common payment method in the world, which refers to a document or letter issued by a bank (opening bank) to a third party (usually the seller) in accordance with the request and instructions of the customer (usually the buyer), including the name of the applicant, the beneficiary, the date of the letter, the name of the transaction goods, the quantity, the conditions, and the requirements of the beneficiary to issue a bill of exchange ( In the document or letter, the bank undertakes to the seller that if the third party can fulfill the conditions set forth in the document or letter, the third party may issue a bill of exchange payable by the bank or another bank designated by the bank and shall be liable for payment in accordance with the conditions contained therein. In the letter of credit, the buyer is the payer of the bill of exchange, and the issuing bank is responsible for its payment; (2) Although the development of the letter of credit is based on **, but there are also non-based and developed on the basis of **, the bill of exchange issued by this letter of credit usually does not need to be attached to the document, the so-called non-documentary letter of credit (*clean credit) is other such as the pledge guarantee (*bid bond), performance bond (*performance bond), repayment guarantee (repayment bond) and so on are also for the purpose of the letter of credit; (3) Although the beneficiary is required to issue a bill of exchange, there are also those that do not need to issue a bill of exchange, but only need to present a receipt or only need to submit the prescribed documents to redeem the money, such as the letter of credit (*payment on receipt credit) and the letter of credit (*payment against documents credit) are to use the letter of credit as a payment method, for the exporter, As long as the goods are delivered and the documents specified in the letter of credit are presented, the payment guarantee of the issuing bank can be obtained, and there is no need to worry about the dishonesty of the importer, and the bill bank is also more willing to accept the bill of exchange, so the letter of credit can still give the exporter the convenience of financing the payment for the goods after the goods are shipped. or fraudulent payment for goods with fake documents

USANS L C is a usance letter of credit and sight l c is a sight letter of credit.

A usance letter of credit refers to a letter of credit in which the issuing bank or the paying bank does not immediately fulfill the payment obligation after receiving the bill of exchange and documents that meet the terms of the letter of credit, and only fulfills the payment obligation on the due date of the bill. A usance letter of credit is a way of financing an exporter to an importer.

You see, do you understand? If you don't have any words, I'll explain!

The most important thing here is the method, and if you master the method, similar problems can be solved!

Good luck with your studies!