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Hy Guys,

Need your experience and valuable opinion regarding one case.

In original LC we have such formulation: 2C: Drafts at... 90 DAYS AFTER B/L DATE.

Actually we received all doc's from confirming Bank, On B/L there are two dates: 1) Date of issue of b/l :23.12.2014
2) Shipped on board date: 21.12.2014. The confirming Bank calculated the maturity date from 23.12.2014 + 90 days.

Actually my opinion is that unless there was no indication, Drafts at... 90 DAYS AFTER B/L IssueDATE, confirming bank had to made calculation from 21.12.2014.

What can u suggest?

hi

ı definitely agree with you.As per UCP 600 maturity date must be start shipment date on b/l

Gegeeee you are quite right, the confirming bank should have calculated maturity date from 21.12.14 +90 days (using the ship on board date)

If you refer to the ISBP under UCP 600 E6 (a) it states "when a pre=printed shipped on board bill of lading is presented, its issuance date will be deemed to be the date of shipment unless it bears a separate dated on board notation. In the latter event, such date will be deemed date of shipment whether that date is before or after issuance date of the bill of lading."

Hope it helps.
Kiara

This issue is very clearly specified in ISBP 745 in B2 (c) i.e. when tenor refers to e.g. 60 days after the bill of lading date, the on board date deemed to be the bill of lading date even when the on board date is prior to or later than the date of issuance of bill of lading.
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As such I completely agree with you.
Thanks

absolutely right the maturiy date has to be calculated from on board unless B/L mentions otherwise

Clearly stated in ucp art 20a ii, on board date will be considered as shipment date if mentioned in BL, therefore, the maturity calculation should be based on bl on board date. And then, confirming bank maturity calculation zhould

Hi Pal,

IMHO, if it is written "60 days after b/l's date, it is ok.
The problem when it is written "60 days after b/l's issuing date".
It is clear that the applicant wants pay 60 days after the issuing date of the b/l even if On Board date is prior of the date
of the b/l. This may causes a conflict, so it should be better to avoid or at least repeat this condition in field 47.
When using different wording as stated in ICC UCP or ISBP, the meaning may be differently interpreted.
We translate from Italian to English, and a Chinese from English to Mandarin using different nuances of a language.
Other comments appreciated
Ciao

hello,


your questions is typically answered ISBP 745E PAR. B2-C
maturity calculation should be based on board date not issuance date (as per your case)

Regards
A.rabie

Hi

I completely agree with you, it is clearly specified in ISBP 745 in B2 c , indicates if there is an pre printed or shipped on board mention on bill, this date will be considered to calculate the tenor. When there is no such indication BL date can be considered in that case.