MT 700 stipulates
31D : 17 JULY UK (Bene Country)
41A : ADVISING BANK BY NEGOTIATION
44C : 26 JUNE
48 : 14 DAYS AFTER THE SHIPMENT DATE BUT WITHIN THE
VALIDITY OF THIS LETTER OF CREDIT
==> The latest date a complying presentation ??
Latest Date A Complying Presentation
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shafi865
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dinesh2476
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latest date a complying presentation
The latest date a complying presentation - 17 JULY UK (Bene Country)
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dinesh2476
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Late presentation
Hi, picant please correct me. Presentation period clause states after presentation period but with in validity of the credit which is different from the normal lc structure
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picant
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Field 48
Hi Pal,
words are words but no ambiguity.
48, this field specifies the period of time after the date of shipment within which documents must be presented for payment/acceptance/negotiation.
Documents must be presented when the l/c is still valid.
IMHO the sentence does not alter the normal clause.
Other comments appreciated
Ciao
words are words but no ambiguity.
48, this field specifies the period of time after the date of shipment within which documents must be presented for payment/acceptance/negotiation.
Documents must be presented when the l/c is still valid.
IMHO the sentence does not alter the normal clause.
Other comments appreciated
Ciao
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Navi
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latest date of presentation
Hi friend,
Expiry date of LC is expected to be latest date of shipment + presentation period. However, in practice, this equation is not always true. Applicants sometimes request LC expiry date beyond presentation period to refrain from cost of
extending L/C which is usually higher than any other ordinary amendment. In such cases, presentation must be made within period stated in field 48 after shipment date. In this case, 10 july (in case it is working day)
Expiry date of LC is expected to be latest date of shipment + presentation period. However, in practice, this equation is not always true. Applicants sometimes request LC expiry date beyond presentation period to refrain from cost of
extending L/C which is usually higher than any other ordinary amendment. In such cases, presentation must be made within period stated in field 48 after shipment date. In this case, 10 july (in case it is working day)
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dinesh2476
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Late presentation date.
Dear all,
This is the usual LC conditions which explicitly states ''within''. such scenario, obviously, the expectation to be presented within 18 days from the bill of lading date. but the post states ''after...within expiry'' .
my expectation is to present within expiry date..
:48:(Period for Presentation)
DOCUMENTS MUST BE PRESENTED WIHTIN
18 DAYS AFTER BILL OF LADING DATE,
BUT WITHIN THE VALIDITY OF THIS
CREDIT
This is the usual LC conditions which explicitly states ''within''. such scenario, obviously, the expectation to be presented within 18 days from the bill of lading date. but the post states ''after...within expiry'' .
my expectation is to present within expiry date..
:48:(Period for Presentation)
DOCUMENTS MUST BE PRESENTED WIHTIN
18 DAYS AFTER BILL OF LADING DATE,
BUT WITHIN THE VALIDITY OF THIS
CREDIT
-
Navi
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late presentation v.s. lc expired
hİ,
If presentation made later than 14 days after shipment date but within LC validity, then presentation will be rejected due to late presentation. The wording "within Lc validity" is added in order to limit presentation period to lc expiry date, when the period stated in field 48 is longer than the time interval between latest date of shipment and l/c expiry date.
If presentation made later than 14 days after shipment date but within LC validity, then presentation will be rejected due to late presentation. The wording "within Lc validity" is added in order to limit presentation period to lc expiry date, when the period stated in field 48 is longer than the time interval between latest date of shipment and l/c expiry date.