Documents & Examination check0 / 1 answered · 0 correct
Check 1
Can documents be late even if shipment was on time?
Dates, Shipment, Presentation and Expiry
Four clocks that beginners frequently mix together.
Issue date
The date the credit is issued is not automatically the shipment date, presentation deadline or maturity date.
Shipment date
Transport-document rules determine how the relevant shipment date is evidenced. Compare it with the latest shipment date/period.
Presentation period
A credit may state a number of days after shipment for presentation, while the overall expiry still sets an outside limit.
Maturity date
For usance/deferred payment, maturity is a separate payment date calculated under the credit terms after a complying presentation/acceptance or other stated event.
Standards / source note: For documentary-credit work, read the actual credit and amendments together with UCP 600 and the current ICC ISBP where applicable.
Remember thisIssue, shipment, presentation, expiry and maturity are different dates. Draw a timeline.
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