Whether We Need Date Of Expiry Or Period For Presentation

ofei · Post by **ofei** » Thu Nov 06, 2008 7:50 am

Dear all,
As we know SWIFT code bears 31D date and place of expiry. We also know this date is the date for presenting documents. But SWIFT code 48 also bears period for presentation. Both the dates may be the same, maybe not. So I'm wondering whether we need both the dates? From my personal view, one date is enough . Please comment. TKS.

nesarul · Post by **nesarul** » Thu Nov 06, 2008 11:38 am

Dear,
If your don't mention the period of presentation, then sub article 14(c) is applicable.
if you mentioned period of presentation, then you modify the sub article 14(c)
regards
nesar

shahriar · Post by **shahriar** » Thu Nov 06, 2008 12:12 pm

dear ofei,

both the dates have their own purpose.

scenario one:
no expiry date, but swift 48 is there. LC issued in 2008.
beneficiary shipped it in 2099 and presented the document within 21 days

scenario two:

Expiry date is there but not swift field 48

document was presented after 60 days but within expiry. mean while the ship arrived at the port and the applicant has to pay fine for delayed discharge.

regd

shahriar

ofei · Post by **ofei** » Thu Nov 06, 2008 1:30 pm

Dear Shahriar,
Thank you for your wonderful explanation. This does help me clearly understand the two dates.

Whether We Need Date Of Expiry Or Period For Presentation

Whether We Need Date Of Expiry Or Period For Presentation

Re: whether we need date of expiry or period for presentation

Re: whether we need date of expiry or period for presentation

Re: whether we need date of expiry or period for presentation