Every documentary credit shall contain a time limit date for its validity and for presenting the documents for payment, acceptance or deduction. Where the date set for the expiry of the validity of the letter of credit is on a bank holiday, its validity shall be extended to the next following business day. The validity of the letter of credit shall not extend beyond any other period, other than bank holidays, even when the expiry of the validity coincides with the date of disruption of the bank's business due to force majeure events, unless there is an express authorization to that effect from the person ordering the opening of the letter of credit.
Interpretation and application must be checked against the official text and current version.