Best Trade Solution

is it mandatory for a nominated bank to mention the documents presentation date by beneficiary when it forwards the presented documents to issuing bank/confirming bank

Dear Friend

As per my understanding of the subject, nominated bank must mention the documents presentation date so that issuing bank can check that whether the docs have been presented within the stipulated time for presentation.

Rgds
Mohit

Hi Pals,

the nominated bank must indicate date of presentation, in its remittance letter, only if the l/c is extended to the first
following banking day, if the expiry date falls on a day when the bank is usually closed(banking Holyday or similar)
as per Art 29.
In the other case the nominated bank will follow the l/c instructions.
Observed in the last years this bad habit to require in a l/c that the nominated bank must declare that the documents
have been presented not later than....
An exporter/beneficiary will remit immediately documents for presentation, delay may occurre in obtaining On board
bill of lading, etc.

other comments appreciated
Ciao

Dear Picant,

If for example under Lc place and date of expiry is 27/06/2015 and if Lc requires Nom bank to declare that presentation occured not later than expiry date i.e. 27/06/2015 did u see any problem here? or u think that it is not necessary as if presentation occurs after expiry date Nom bank anyway will raise discrepancy and inform isssuing Bank?

Hi Pals,

if the l/c expressly requires such declaration, it must be made.
But it is ot necessary, except when expiry date is postponed due to bank holidays.

Other comments appreciated.

Ciao