How to determine date of shipment on a Road Transport Document?
Date of shipment can be determined in two ways on a Road Transport Document. In the first scenario we will face a situation where Road Transport Document does not contain any date of receipt or a date of shipment notation. In the second scenario we will be having a Road Transport Document which contains a date of receipt or a date of shipment notation.
Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
whether shipment made on time or not (in other words a late shipment has been effected or not)
whether documents presented within the presentation period or not (in other words a late presentation has been effected or not)
maturity date of the time draft
maturity date of a deferred payment letter of credit.