Uncategorized DRAFT DATED PRIOR TO THE ISSUANCE DATE OF LC By Mr Old Man Posted on November 28, 2012 1 min read 2 0 3,474 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr. Old Man, Is it a discrepancy if the draft is dated prior to the L/C issuance date? Thank youBD————— ANSWER Dear BD, No. Unless prohibited by the L/C, all documents, including a draft, dated prior to the issuance date of L/C is acceptable. Please refer to sub-article 14(i), which says: “A document may be dated prior to the issuance date of L/C, but must not be dated later than its date of presentation”. What’s more, drafts are not documents required under field 46A, hence, the issuing bank should not refuse to pay because the drafts contain discrepancies. If needed for some reason, the issuing bank may request the presenter to provide a correct draft to enable the issuing bank to discharge its payment obligation. Best regards,Mr. Old Man