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Hi Pals,

difference in the following wording"payable at 60 days after bill of lading's date and payable at 60 days after bill of ladings issuing date".?
Your comments appreciated.
Ciao

hi Sir...
if the B/L issue date is 01 janxxx and on board notation is 02janxxx
60days after bill of lading issue date will be :02 MARXXXX(PROVIDED 28DAYS IN FEB)
60days after bill of lading date means :03MAR XXX(PROVIDED 28DAYS IN FEB)


other comments plz.............

Hi Picant,

In my opinion, wording:
* "payable at 60 days after bill of lading's date should be considered as " 60 days after shipment date" regardless it is earlier or later than issue date of B/L. (ISBP B,2,c)
* "payable at 60 days after bill of ladings issuing date" may be considered "... after issue date of B/L", since "issue date" is explicitly stated.
.
Nevertheless, while issung LCs, I often persuade applicants to express maturities as ".... shipment date" i/o "...B/L date" or "...B/L issue date" in order to prevent any possible conflicts in the future.

In most cases it would be -- days from the BL date and the maturity date would be calculated from the on board date

Incase where specificaly terms states 60 days from the issue date of the BL then the maturity will be calculated from the issue date of the BL.

Credit states tenor as 60 days from BL date, which means from shipment date/Shipped on board date.

Usually maturity date is calculated from the on board date.

Unless LC specifically stipulates as mentioned above (from issue date).

Trust this clarifies...

After BL date - means After BL's On Board Date if Any, or BL issuing date if the BL not bear On Board Date (UCP art 20)
.
After BL Issuing Date - Means After issuing date stated in BL, even there is An on board date, the on board date is to be disregarded, and the calculation base is the issuing date of BL
.
Hope this help