46A: DRAFT AT 90DAYS FROM B/L DATE

[IZMIR35]

GUYS NEED HELP! JUST EXPORTED SOME GOODS UNDER AN L/C WITH THE BELOW CLAUSE:

46A: DOCUMENTS REQUIRED
1) DRAFT AT 90 DAYS FROM B/L DATE DRAWN ON ISSUING BANK AND MARKED DRAWN UNDER ....BANK ....L/C NO ....DT ...

LATER AFTER THE SHIPMENT AND SUBMISSION OF THE DOCS THE ISSUING BANK SENT A SWIFT TO MY BANK AS BELOW:

SWIFT OUTPUT FIN 756 ADV OF REINBURSEMENT OR PAYMT
.
72: SENDER TO RECEIVER INFORMATION
/REC/THE LC DOCUMENTS HAVE BEEN ACCEPTED TO MATURE ON ....

NOW;
DID WE SELL GOODS VIA L/C OR DRAFT (JUST BECAUSE IT SAYS DRAFT IN 46A)? DO I NEED TO DO ANYTHING TO COLLECT THE MONEY ON THE DUE DATE? IS THERE A DISCREPANCY IN THE L/C THAT WILL PREVENT ME FROM COLLECTING ALTHOUGH WE HAVE SWIFT 756?

[picant]

Hi Pal,

you have a swift document that the presentation has been accepted as per credit terms, so the
issuing bank will pay you at maturity. In effect by requiring a draft in field 46, some banks need to
check the document, but it must be drawn on applicant.(Bangladesh e.g.). ICC is involved in a study concerning the use of draft in l/c:
Other comments appreciated.
Ciao