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REQUEST FOR OPINION BY CITING UCP 600, ISBP
(1) L/C TERM:
DOCUMENTS MUST BE PRESENTED NOT MORE THAN 12 DAYS FROM
DATE OF SHIPMENT, BUT WITHIN L/C VALIDITY.
(2) L/C TERM:
DOCUMENTS MUST BE PRESENTED NOT MORE THAN 12 DAYS AFTER DATE OF SHIPMENT, BUT WITHIN L/C VALIDITY.
ASSUMING B/L ON BOARD DATE IS APRIL 10, 2008
MAY I SAY THAT BOTH PRESENTATION DATE FALLS ON APRIL 22, 2008?
THANK YOU FOR YOUR COMMENT WITH SUPPORTING CASE FROM UCP 600, ISBP OR LAW.

For your reference:

Official Opinion R294 - 1997
From UCP500Sub-Articles 47(a), 42(a) and 43(a)
1. Referring to sub-Article 47(a). Where a letter of credit requires that 'documents must be negotiated within (say) 21 days from the bill of lading date', would the 21 days period stipulated be deemed to include the B/L date or to exclude the B/L date? As sub-Article 47(a) refers to 'any date or period in the credit not referring to shipment' (e.g. in the example above, referring to negotiation) will be understood to exclude the date mentioned. We would appreciate your opinion on this point.

Sub-Article 47(a) refers to the use of the word "from" in the context of date terminology for periods of shipment. UCP does not make a statement as regards the use of the words «from» or «after» in any other context.
However, «from» is widely accepted as being inclusive of the first day of the period concerned, while «after» commences the date following receipt or action.

quote:
A consulting company stated that "from" and "after" have the same meaning and that would apply to a condition that stated
"documents must be presented not more than 10 days from the date of shipment". The calculation would commence the day after that date of shipment."
unquote


The position sought within UCP 600 is that "from" and "after" have the same meaning when used to determine a maturity date exclude the date mentioned. Can we apply the above position to calculate the date of presentation in UCP 600.

Another issue is that:
L/C terms:
L/C available with any bank in Hong Kong by negotiation.
L/C expiry date: April 16, 2008 Hong Kong
Latest shipment date: April 6, 2008

DOCUMENTS MUST BE PRESENTED NOT MORE THAN 10 DAYS AFTER DATE OF SHIPMENT, BUT WITHIN L/C VALIDITY.
B/L presented showing on board date : April 10, 2008
documents present by negotiating bank to issuing bank on April 18, 2008
Negotiating bank citing discrepancies:
1. Late shipment
2. L/C expired

But issuing bank citing additional discrepancy: Late presentation.
Please favor me your comment on the above whether issuing bank quoting Late presentation is valid or not.

Regards,
ucp 800

Dear,
Issue 1:
I think R 294 solve the issue.i.e
Heading :

Use of the word «from» in relation to negotiation period; whether documents may be presented on the expiry date.

is not relevant to shipment date or period of shipment.
conclusion point:

Sub-Article 47(a) refers to the use of the word "from" in the context of date terminology for periods of shipment. UCP does not make a statement as regards the use of the words «from» or «after» in any other context.
However, «from» is widely accepted as being inclusive of the first day of the period concerned, while «after» commences the date following receipt or action.

is applicable in any other cases outside the shipment and maturity calculation.
Hence from my point of view: consulting firm position is not correct.
Issue Two:

Late presentation by issuing bank where document received from nominated bank:

either nominated bank stipulated on its forwarding schedule that late presentation, or
.
Forwarding schedule date is beyond last date of applicable presentation date [other than sub article 29] followed by one of the document more likely draft if presented is in the same dated as forwarding schedule date.
.
otherwise IB can not raise a discrepancy like late presentation without receiving any clarification from the NB,
,
Regards
Nesar

i agree with nesar bhai. from the date of shipment includes the date of shipment.

dear all,

i was reading the FAQ 5 on UCP 600 from gary collyer and found this

The wording between UCP 500 and 600 is different in the context of ‘from’ and ‘after’, and therefore opinion R.294, given under UCP 500, cannot be applied under UCP 600.......In the context of a presentation period, 15 days ‘from’ or ‘after’ the bill of lading date will give you the same “end date”.

hi all
in my opinion, under article 3 - ucp600, the word "from" used to determine a period of shipment include the date or dates mentioned and the word "after" exclude the date mentioned
and the word " from" and " after" when used to determine a maturity date exclude the date mentioned.
so that's clear the period is 22 apr

Hi all,

i agree with Dua in the first issue, and ...
the second issue, i understand that :
If documents are received by an issuing bank beyond the expiry date .
The schedule is dated beyond the last date for presentation and there is no evidence of a statement that documents were received within the expiry date or within the latest date for presentation.
There is no statement that all terms and conditions have been complied with, the issuing bank may raise an issue with the presenter.
However, if the presenter responses that the documents were received within the required time the issuing bank must honour immediately.
.
rgds,

Hi Expert,

Does ''FROM'' and ''AFTER'' given in field 48 change the end date. Here the conclusion is ''it changes'', but the UCP article 3 referred to here is for ''shipment'' and not ''presentation date''.

Please advise.


EQUEST FOR OPINION BY CITING UCP 600, ISBP
(1) L/C TERM:
DOCUMENTS MUST BE PRESENTED NOT MORE THAN 12 DAYS FROM
DATE OF SHIPMENT, BUT WITHIN L/C VALIDITY.
(2) L/C TERM:
DOCUMENTS MUST BE PRESENTED NOT MORE THAN 12 DAYS AFTER DATE OF SHIPMENT, BUT WITHIN L/C VALIDITY.
ASSUMING B/L ON BOARD DATE IS APRIL 10, 2008
MAY I SAY THAT BOTH PRESENTATION DATE FALLS ON APRIL 22, 2008?
THANK YOU FOR YOUR COMMENT WITH SUPPORTING CASE FROM UCP 600, ISBP OR LAW.

Hi Pal,

is para A15 ISBP 745 stisfying you query?
Let us know.
Ciao