How to determine date of shipment on an Air Transport Document?
Date of shipment can be determined in two ways on a Air Transport Document. In the first scenario we will face a situation where Air Transport Document does not contain any specific notation of the actual date of shipment. In the second scenario we will be having a bill of lading which contains an actual 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.
On the figure which is located left side of this article, we see an air waybill with a seperate actual date of shipment notation. The date of shipment on this air waybill is 15.05.2014 as indicated on the notation.