QUESTION
Hi Mr. Old Man.
Please answer my question:
Date of Issue of B/L is 02-12-2014 and Shipped on Board date is 29-11-2014.
So, the B/L date indicated in other documents is 02-12-2014 or 29-11-2014?
Thank you
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ANSWER
Hi,
Here’s my quick answer:
Majority vote for 02-12-2014.
Shipped on Board date 29-11-2014 is regarded as Bill of Lading date when used to calculate maturity date of draft.
Kind regards,
Mr. Old Man
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!
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
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
Nguyễn Thanh Hải
December 12, 2014 at 2:37 pm
Thank for your advise