• Force Majeure


    This Article (36) is largely unchanged although express reference is now made to terrorism. The stipulation that under UCP the expiry date of a credit is not extended as a result of force majeure remains unchanged, i.e. a credit will simply expire even though force majeure may prevent the seller from utilising it.

    But something sellers may not always be aware of is that letters of credit may also be presented at the issuing bank (as well as any nominated bank) - see Article 6a. This can be important if the nominated bank is affected by force majeure. 

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