WHETHER BILL OF LADING DATE IS ISSUANCE DATE OF BILL OF LADING OR SHIPPED ON BOARD DATE

4 Comments

1. 

   Dung mom

   December 8, 2014 at 10:27 am

   Hi Mr Oldman,
   We’ve received D/A docs 30 days at sight . How to canculate the due date in this case? 30 days from the docs arriving date or the drawee’s acceptance date?
   Thanks a lot for yr advice.
   I admire you alot!

   Reply

• 

  mroldman

  December 8, 2014 at 8:41 pm

  Hi,

  D/A 30 days sight means 30 days after the date the draft/documents is/are seen by the drawee/buyer.

  Kind regards,
  Mr. Old Man

  Reply

• 

  mroldman

  December 9, 2014 at 8:42 pm

  Hi,

  D/A at 30 days sight means 30 days after the draft/documents is/are seen by the drawee (buyer). So, it should be commonly understood that for a draft drawn on the drawee at 30 days sight or after sight, the maturity date will be 30 days after the day the collecting/presenting bank presents the draft to the drawee (and not after the day the drawee accepts the draft).

  It is unfair if the maturity is calculated based on the day the drawee accepts the draft. However, practice has shown that the collecting/presenting bank would send the drawee the notice of document arrival without presenting the draft/documents to the drawee and the drawee would wait for the goods to arrive at the destination port and then ask the bank to present the draft for his acceptance. In this case, the maturity would be 30 days after the acceptance day which is coincided with the presentation day.

  Hope it is clear now.

  Kind regards,
  Mr. Old Man

  Reply

2. 

   Nguyễn Thanh Hải

   December 12, 2014 at 2:37 pm

   Thank for your advise

   Reply