Maturity Date Calculation For Non Complying Presentation Under LC

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shafi865
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Maturity Date Calculation For Non Complying Presentation Under LC

Post by shafi865 » Fri Mar 31, 2017 11:12 pm

Dear All,

Consider the following conditions-

1) Non-complying presentation
2) draft drawn at a tenor 60 days after BL date
3) Drawee bank provide notice of refusal
4) Drawee bank accepts the waiver of the applicant or issuing bank

Then whether the maturity date is to be calculated from the BL date nor calculated from the date of acceptance of waiver.

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Shafique

gondem
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Usance Draft

Post by gondem » Sun Apr 09, 2017 6:14 pm

The maturity date is to be calculated from the BL date.

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gegeeee
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Post by gegeeee » Thu Apr 13, 2017 7:18 pm

Hy all,

It clearly states the tenor: 60 days after BL date. So it will be calculated from BL date.

We would have a different outcome if there was indication at 60 days sight

Thanks
Gega

saikumar1208
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Re: Maturity Date Calculation For Non Complying Presentation Under LC

Post by saikumar1208 » Sun Sep 17, 2017 11:49 am

Maturity date is calculated from the date of BL . If draft is at 30days from sight then maturity is calculated from date of complying presentation, if it is not a complying presentation maturity will be calculated from date of acceptance of waiver by issuing bank.

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