Home Uncategorized WHERE THE BL DATE IS REFERRED TO AS THE DATE OF ISSUANCE

WHERE THE BL DATE IS REFERRED TO AS THE DATE OF ISSUANCE

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QUESTION

Dear Mr. Old Man,

We received a set of documents including:

– Draft at 180 days after B/L date (03 June, 2013)
– Invoice showing B/L date as 05 June, 2013
– B/L showing:
Date of issue: 05 June, 2013
On board date: 03 June, 2013

We refused the documents citing the discrepancy “Commercial invoice showing wrong B/L date”. However, the negotiating bank rejected the discrepancy.

Could you please tell me whether the negotiating bank was correct in its rejection of the discrepancy?

I’m looking forward to your answer ASAP.

Thank you in advance.
TNP
————-
ANSWER

Hi,

It is recognized in practice that issuing banks would stipulate the tenor of a draft as “xxx days after B/L date” while the phrase “xxx days after shipment date” is encouraged to be used to avoid confusion in fixing the maturity date.

According to sub-article 20 (a) (ii) UCP 600, the date of issuance of the B/L will be deemed the date of shipment unless the B/L contains an on board notation indicating the date of shipment, in which case the date stated in the on board notation will be deemed to be the date of shipment. So, it is understood from the provision that where a B/L contains an on board date and a B/L date, the on board date will be deemed to be the date of shipment.

According to paragraph 43 (c) ISBP 681, if the tenor refers to xxx days after the B/L date, the on board date is deemed to be the B/L date even if the on board date is prior to or later than the date of issuance of the B/L.

I think paragraph 43 (c) is designed for the purpose of fixing the maturity date of a draft to be drawn under the LC that requires the draft to be drawn at “xxx days after the B/L date. As for cases other than calculation of maturity date, the B/L date can be referred to as the date of issuance of the B/L. That the commercial invoice shows the B/L date as 05 June, 2006, which is the date of issuance of the B/L, is acceptable.

I think the negotiating bank was correct in its rejection.

Best regards,
Mr. Old Man

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7 Comments

  1. themonster8x

    June 22, 2013 at 1:06 am

    Dear Mr. Oldman. Cho em hỏi làm sao post được bài lên Blog của anh ạ? Em có mấy vấn đề cần xin ý kiến của anh mà chưa biết cachs post ạ

    Reply

  2. mroldmanvcb

    June 22, 2013 at 4:06 am

    Opera không cho phép người khác post bài trực tiếp vào blog của chủ nhân ngoại trừ comment bên dưới những bài viết của chủ nhân. Nếu bạn có câu hỏi, bạn kích vào icon hình bì thư ở trên hoặc gửi trực tiếp cho Mr. Old Man qua email: nhduc.dng@vietcombank.com.vn

    Reply

  3. anonymous

    June 23, 2013 at 3:06 pm

    Tn.phuong85@gmail.com writes:That is my case. Thank you for your timely help. I contacted to the applicant advising they don not need to refuse that docs, at the same time I request the beneficiary to resend an other commercial invoice and packing list with right B/L date and they accepted. showing the discrepancy is only presents for issuing bank's duty, we really want to work for benefit of both exporter and importer not trying to seek for the mini fault to refuse payment. The prosperity of customer is our success too.

    Reply

  4. mroldmanvcb

    June 24, 2013 at 7:06 am

    I guess you are 100% from Agribank. Am I right?

    Reply

  5. anonymous

    July 1, 2013 at 9:07 pm

    Anonymous writes:You are totally right :)Oh, my slogan…

    Reply

  6. shanehkm

    July 29, 2013 at 3:07 pm

    Sorry Old Man.. I dont know how to start a new post thus need to insert my enquiry down here. Recently i received an export LC.. LC available with any bank at 45 days after BL date (BL date =0). Under Field 45a, DES Guangzhou , China.. Latest Delivery date 21/07/2013. Under Field 46A, documents called for 1) Commercial Invoice in 1 Original and 3 copies. Client submitted documents with BL date at 19/07/2013. Issuing pick discrepancies as INVOICE NOT SHOWING NOR DATE, UNABLE TOASCERTAIN IT IS DELIVERED WITHIN THE LATESTDELIVERY DATE 21 JULY 2013..LC did not call for NOR date to be included in Invoice. Please advise if the above discrepancy is valid?Thanks in advance.

    Reply

  7. mroldmanvcb

    July 30, 2013 at 8:07 pm

    Did the presented documents including BL? Maturity is determined based on the BL date, hence, the BL should be required to be presented. If the BL is not required, then the LC must state how to determine the maturity date, e.g., the invoice presented must show BL date based on which the maturity is determined. The discrepancy is not valid as ISBP 745 para 10c)says "An invoice need not be signed or dated".

    Reply

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