latest date for presentation in letter of credit

What is Letter of Credit

Field 31D: Date and Place of Expiry

Article 31D: Date and Place of Expiry is a field under the MT 700 Issue of a Documentary Credit swift message. This field indicates the latest date for presentation under the documentary credit and the place where documents may be presented..

What is Field 31D: Date and Place of Expiry?

Field 31D: Date and Place of Expiry is a field in MT 700 swift message that is used to indicate the date and place of expiry of the letter of credit.

This is a mandatory field, which means that it must be stated in all of the letters of credit issued via MT 700 swift format.

This field specifies the latest date for presentation under the documentary credit and the place where documents may be presented.

A credit must state an expiry date for presentation. An expiry date stated for honour or negotiation will be deemed to be an expiry date for presentation.

The place of the bank with which the credit is available is the place for presentation. The place for presentation under a credit available with any bank is that of any bank.

A place for presentation other than that of the issuing bank is in addition to the place of the issuing bank.

Except as provided in sub-article 29 (a), a presentation by or on behalf of the beneficiary must be made on or before the expiry date.

MT 700 31D: Date and Place of Expiry USAGE RULES Date must contain a valid date expressed as YYMMDD.

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