To ensure safe collection of exchange, the beneficiary should try to make the documents comply with the provisions of the letter of credit. Therefore, the type, name, number of copies, content, issuance time, and identity of the issuer of the documents should be consistent with the terms of the letter of credit. If the content of the document is changed, the revision stamp should be affixed to the modified part and signed or stamped by the issuer. However, since the preparation of documents is generally computerized, any trace of change in the content of the document should be avoided.
The beneficiary should submit the documents within a reasonable time. The deadline of this reasonable time should be the earlier of the expiration date of the letter of credit and the latest date for submission of documents. However, if the deadline for submission of documents determined in this way coincides with the bank’s normal non-business day, it can be postponed to the next business day, but the bank accepting the document presentation should prove this postponement. However, if the bank’s business is interrupted due to force majeure when submitting the documents, and the latest date for submission of documents or the validity period of the letter of credit has expired after the resumption of business, the bank has no obligation to accept the presentation of documents or bear the payment responsibility unless the applicant authorizes the bank to do so.
In addition, the beneficiary must present the documents at a designated location. Unless the letter of credit clearly stipulates that payment is only made at the issuing bank, the designated location for presentation must be the designated negotiating bank specified in the letter of credit. Of course, it is always allowed for the beneficiary to present the documents directly to the issuing bank or confirming bank (if any), but the issuing bank or confirming bank should take measures to avoid presenting the second set of the same documents to the designated bank to prevent duplicate payment, acceptance or negotiation.
In addition, when presenting the documents, the beneficiary should also hand over the original letter of credit and all letter of credit amendment notices for the bank to review and verify.