Calculation of Presentation Period

[hassan]

Please note to following paragraphs of ISBP 681 :

43. The tenor must be in accordance with the terms of the credit.
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e. If a bill of lading showing more than one on board notation is presented under a credit which requires drafts to be drawn, for example, at 60 days after or from bill of lading date ... the earliest of these on board dates will be used for calculation of the maturity date. ...
f. If a credit requires drafts to be drawn, for example, at 60 days after or from bill of lading date, and more than one set of bills of lading is presented under one draft,the date of the last bill of lading will be used for the calculation of the maturity date.

80. If a credit prohibits partial shipments and more than one set of original multimodal transport documents are presented covering shipment ... the latest of these dates will be taken for the calculation of any presentation period, and such date must fall on or before any latest date of shipment, dispatch or taking in charge specified in the credit.

Question:

If a bill of lading showing more than one "on board notation" is presented under a credit and the goods according to both or all on board notations were shipped from ports within a permitted geographical area or region, which one of "these on board dates" will be used for calculation of the presentation period?
I think the UCP 600 and ISBP 681 is silent in this case. please write the relative articles if any.

thanks a lot

[mia vervacke]

I refer to ISBP art. 105:

If a credit prohibits partial shipments and more than one set of original bills of lading are presented covering shipment from one or more ports of loading (as specifically allowed, or within the geographical area or range stated in the credit), such documents are acceptable provided that they cover the shipment of goods on the same vessel and same journey and are destined for the same port of discharge. In the event that more than one set of bills of lading are presented and incorporate different dates of shipment, the latest of these dates of shipment will be taken for the calculation of any presentation period and must fall on or before the latest shipment date specified in the credit. Shipment on more than one vessel is a partial shipment, even if the vessels leave on the same day for the same destination.

This article is applicable for shipment of goods on the same vessel and same journey and are destined for the same port of discharge. If bill of lading is showing 2 on board notations within the same document it will probably be for the same vessel. In such case I would take the latest of these shipment dates.

[hassan]

Dear mia vervacke,
thank you for valuable comment, but there is a problem:
as you see in case of determining the maturity of bill of exchange, existing "more than one on board notation" on a B/L is completely diferent from when "more than one set of original B/L" is presented i/e in one of them the earliest on board date and in other case the latest date is base of calculation. so may be it also is apply for presentation period.unfortunately there is not any clarification in UCP or ISBP in this case.

[shahriar]

in my opinion, it would be the earliest one. if a bill of lading has two on board notation, i believe there must be two vessels involved. otherwise there is no reason to put shipped on board notation for the same goods which is already on board.

unless the 2nd on board notation incorporates the port of lading stated in the LC and the first one is outside the permitted region, i would take the first one for calculation of any presentation period.

[mia vervacke]

Hello hassan, I need to review my opinion about your query.

Last friday I saw a bill of lading with 2 on board notations (29 march 2010 and 31 march 2010).

Latest date of shipment in the L/C was 30 march 2010.

I was questioning which on board date I should take into account to determine if there is late shipment?

1) As per ISBP art. 43e I would say the earliest one (29 march 2010) -> no late shipment
presentation period starting from the on board date of the b/l = 29 march 2010
2) As per ISBP art. 43f If I had 2 bill of ladings for the same conveyance/vessel , it would be the latest one (31 march 2010)
-> late shipment
presentation period starting from the latest on board date = 31 march 2010 (cfr ISBP art. 105)
.
MY QUESTION

If I receive 2 complete remittances (2 partial shipments) under one and the same remittance, one b/l dated 28 march 2010 and the other 30 march 2010, from which date should I start the presentation period.

I would say 28 march 2010, but ISBP art. 105 states 'In the event that more than one set of bills of lading are presented and incorporate different dates of shipment, the latest of these dates of shipment will be taken for the calculation of any presentation period and must fall on or before the latest shipment date specified in the credit'
.

I would appreciate all your comments.