Int'l Rules - Trade‎ > ‎UCP 600‎ > ‎E. Misc Issues‎ > ‎

Article 32

Instalment Drawings or Shipments

If a drawing or shipment by instalments within given periods is stipulated in the credit and any instalment is not drawn or shipped within the period allowed for that instalment, the credit ceases to be available for that and any subsequent instalment.