Dear Experts,
I represent the issuing bank. I've opened an usance L/C as payment term "90 Days from the Date of Commercial Invoice". Now, I have received a set of document that contains three different commercial invoices with three different dates. How to determine maturity date in such cases? Pleas help.
Regards,
maturity date in usance LC
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Siddhanjan
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saguna2018
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Re: maturity date in usance LC
Hi,
I think in this case, ISBP para B3 will apply and same logic to be followed as we do for calculation with respect to Transport Document date.
Would request for others' comments as well.
Thanks
SGN
I think in this case, ISBP para B3 will apply and same logic to be followed as we do for calculation with respect to Transport Document date.
Would request for others' comments as well.
Thanks
SGN
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cristiand969
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Re: maturity date in usance LC
Unless the covering schedule specifies maturity dates for the each of the 3 payments separatelly , the calculation of maturity is to be in accordance with ISBP paragraph B3
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AMRIT1085
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Re: maturity date in usance LC
Among 3 commercial invoices , invoice having latest date should be used for determination of due date.