In a letter of credit, which feature sets the deadline for presentation of documents?

• A. Documentary requirements
• B. Dispute resolution provisions
• C. Expiry
• D. Endorsements

Answer: (C)

The deadline for presenting documents is set by the expiry of the letter of credit. The expiry date is the latest point at which the beneficiary can present required documents and still have the bank honor or negotiate the documents. After expiry, the bank is generally not obligated to comply, unless the credit has been amended to extend the term. Documentary requirements tell you what documents must be presented, dispute resolution provisions govern how problems are handled, and endorsements relate to transferring or negotiating the credit or documents; none of these establish the presentation deadline. So the expiry is the feature that determines the presentation deadline.