Force majeure does not extend expiry dates in letters of credit: Expert

A bank will not, upon resumption of its business, honour or negotiate under a credit that expired during such interruption of its business

Q. Many of the letters of credit opened by foreign buyers on us for export of goods expire during the lockdown. We have made the shipments but are unable to present the documents to the bank under the letters of credit within the validity period. Can we take the plea that the force majeure situation allows us to present the documents on the first day after the lockdown ends?

Please note that no bank holiday has been declared for the duration of the lockdown. In any case, according to Article 36 of the Uniform Customs and Practices for Documentary Credits,