WHEN BILL OF LADING DATE IS BILL OF LADING DATE

QUESTION

Dear Mr. Old Man,

I have a question that needs your clarification.

It is commonly known that when drafts are to be drawn at xxx days after or from the the bill of lading date and the presented bill of lading shows both the issuing date and the on board date, the on board date is to be used for calculation of the maturity date.

Where the bill of lading contains two dates, the issuing date and the on board date, which date is to be used if LC requires other documents, e.g. invoice, to indicate the bill of lading date? Is it a discrepancy if the invoice indicates the on board date as the bill of lading date?

Thank you!

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ANSWER

Hi,

You are correct when saying that the on board date is to be used for calculation of the maturity date of drafts. For clarification, please also refer to ISBP 745 B2 (c), which says “When the tenor refers to, for example, 60 days after the bill of lading date, the on board date is 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 the bill of lading”.

The on board date is deemed to be the bill of lading date when used for calculation of the maturity date. When LC requires documents other than drafts to indicate the bill of lading date, such documents should indicate the issuing date as the bill of lading date.

Kind regards,

Mr. Old Man