The issuing bank receives a set of documents with the following contents:  Invoice issued on November 30, 2007, with the amount of USD 100,000,  Packing list issued on December 26, 2007  B/L1, released on 1.12. 2007, note the "clean on board" date as 1.12.2007, Hai Phong loading port, KOBE unloading port, ship S1, voyage 100.  B/L2, issued on December 4, 2007, note the date of "clean on board" is December 3, 2007, port of loading Hai Phong, port of discharge OSAKA, ship S1, voyage 100.  Insurance Policy in the amount of EUR 80,000, issued on December 5, 2007 Said: 1. L/C regulations:  L/C issue date: November 15, 2007.  Effective expiry date of L/C: 31.12.2007  Value: 100,000 USD  Last delivery deadline: December 15, 2007  Purchase under CIF terms  L/C referencing UCP 600  Partial deliveries are not allowed 2 The date of presentation of documents is 01.01.2008 Requirement: Is the issuing bank allowed to refuse the above set of documents? Specify the original multiply why?

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3 years ago