The letter of credit document has been sent by the bank and cannot be reissued. If the letter of credit is accidentally lost, the beneficiary will not be able to negotiate with the original letter of credit. The following measures can be taken to remedy the situation. The newspaper declared that the reported loss letter of credit was invalid, and applied to the advising bank to inform the domestic foreign exchange banks, asking the banks to pay attention not to accept the negotiation with the original letter of credit.

The advising bank is not obliged to reissue the letter of credit when applying to the advising bank for replacement of the copy. However, after considering the interests of the beneficiary and obtaining the relevant compensation guarantee, it can reissue the copy of the letter of credit, indicate the replacement on it and affix the seal of the advising bank.

Please ask the issuing bank to reissue the letter of credit. The issuing bank has no obligation to re-open the L/C. In order to prevent double negotiable instruments from being issued in two letters of credit, it is generally necessary for the applicant to issue a compensation guarantee before considering re-opening the L/C.

Guide for banks to review letter of credit documents

1. document examination standard, banks must examine all documents of the letter of credit with reasonable care to determine whether they are in conformity with the superficial terms of the letter of credit. The apparent conformity between the stipulated documents and the terms of the letter of credit shall be determined by the international standard banking practices reflected in these terms. If the documents appear to be inconsistent, they shall be regarded as inconsistent with the terms of the letter of credit.

2. Exempting the validity of documents, the bank is not responsible for the form, completeness, accuracy, authenticity or legal effect of any documents, nor for the general and/or special conditions stipulated and attached in the documents.

3. Time limit for reviewing documents, and how long it will take for the bank to review the documents submitted by the seller and inform the seller whether the documents are complete.

Article 13 (b) of the Uniform Customs and Practice clearly stipulates that the issuing bank, the confirming bank (if confirmed) or the nominated bank on their behalf shall each have a reasonable period of time, that is, no more than seven banking days after receiving the documents, to examine the documents, decide whether to accept or reject them, and notify the parties who received the documents from them.

4. Inconsistent documents and notices. If the issuing bank authorizes another bank to make payment, undertake deferred payment, accept draft or negotiate for documents that appear to meet the terms of the letter of credit, the issuing bank and the confirming bank (if confirmed) are obliged to accept the documents and make payment to the designated bank that has paid, undertaken deferred payment, accepted draft or negotiated.