In LC terms we found a tenor of "Waiver" , what is the meaning and in what

occasion it will be effected ?


Thanks for the advise.

Quoting from [Oneuni]:


In  LC  terms  we  found  a tenor  of  "Waver" , what is  the  meaning  and  in what


occasion  it  will effected ? 


thanks  for  the 

The general waiver included with most Letters of Credit states that if you fail to comply with the requirements of the credit e.g the documents and or the expiration date that the issuing bank is not responsible to negotiate them.  Some discrepancies have been made moot by UCP 600, however if the discrepancy can only be resolved by an amendment before the expiry date the bank will not negotiate until such time that an ammendment has been ratifyed by both the buyer and seller.  Know this though, neither the buyer not the seller can be compelled to ratify an ammendment it must be mutual.

If Your waiver states something else please aprise us of the wording so that we can better understand what it applies to.

Ranger 

Quoting from [Oneuni]:


In LC terms we found a tenor of "Waiver" , what is the meaning and in what


occasion it will effected ?


thanks for the

     answer to ranger :

     You are right,  it should write "Waiver" not "Waver" , thanks for the correction.

     To other audiences, please read it as  WAIVER and not Waver.

     apologize me for the Error type (wrote). 

     Oneuni