Field 31D: Date and Place of Expiry is a field in MT 700 swift message type that is used to specify the latest date for presentation under the documentary credit and the place where documents may be presented.
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.
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