I have talked to the Mill beforehand about the timing of shipment of the lot that you are preparing to open LC for (the 2nd lot of NV30S-120 300MT at USD1580).
The Mill has advised that the production is being overbooked 80% over capacity due to the growing demand and prices all over the world, besides it is winter time and that will make the time on route from the Mill longer then during other seasons. Because of that we shall not be able to make the shipment of this lot from Vladivostok before the 24th of Jan 2015.
I would suggest that you open LC with time period between latest shipment date and expitry date 120 days like this:
L/C Issue date
Latest Shipment
Expiry Date
18.11.2014
24.02.2015
18.03.2015
Or, if you insist on keeping the 90 days period, in order to avoid making expensive changes to the opened LC regarding latest shipment date and expiry date , I suggest to postpone opening this LC for 28 days, the new dates are as following:
L/C Issue date
Latest Shipment
Expiry Date
15.12.2014
20.02.2015
14.03.2015
I deeply apologize for this situation and hope that we shall get through this difficult time.