Lc missing latest shipment date , what is the last day for shipping

[TradeLaporte]

Lc missing latest shipping daye, what is the last day for shipment

Thanks

[picant]

Hi Pal,

theoretically the expiry date.but depending on the place of presentation of documents.
Other comments appreciated
Ciao

[TradeLaporte]

Thanks Pican , I was trying to get some supporting article

[picant]

This is a comment by Gary Collyer:
Credit without a latest shipment date, what is the latest shipment date?
A credit is issued without indicating a latest shipment date or shipment period. Can a bank automatically consider the latest shipment date as the expiry date of the credit? If yes, please give us the grounds on which it is based.
Field 44C of the MT700 is an optional field. Therefore, it need only be completed if the applicant requires one or more shipments to be concluded on, or by a date that is prior to, the expiry date. If a credit only contains an expiry date, such a credit (by its terms and conditions) is requiring the beneficiary to make a shipment of the stipulated goods, from and to the designated ports, airports or places, and to present certain documents evidencing one or more shipments have been made within the expiry date of the credit. By default, any shipment must be effected no later than the expiry date of the credit otherwise shipment will have been effected under a credit that no longer exists.

Hoping this helps.
Ciao

[jinugu]

HI I second Picant Ravi