QUESTION
If credit calls for draft payable at 30 days from the date of bill of lading date and bill of lading issue date and on board notation date are different then from which date maturity date should be calculated? 30 days from bill of lading issue date or 30 days from on board date?
Please clarify…
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ANSWER
Hi,
According to ISBP 745 para B2 (c), 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.
In view of the above, the maturity date in this specific case is 30 days from/after on board date.
Kind regards,
Mr. Old Man
