How to Determine Date of Shipment on a Bill of Lading?

After reading this article, you should understand how the date of shipment on a marine or ocean bill of lading is determined.

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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.

Date of shipment on a bill of lading can be determined in two ways.

In the first scenario, we will face a situation where a bill of lading does not contain any dated shipped on board notation.

In the second scenario, we will be having a bill of lading which contains a dated shipped on board notation.

Option 1 => There is no shipped on board notation exists on the bill of lading:

  • The date of issuance of the bill of lading will be deemed to be the date of shipment.

Option 2=> Bill of lading indicates, by stamp or notation, a shipped on board date:

  • Notation date will be deemed to be the date of shipment as specified below: Date of shipped on board notation/stamp => this date will be deemed to be the date of shipment

Example: On the below figure, you can see a shipped on board notation which is located on the bottom of a bill of lading. As there is a dated on board notation exist on the bill of lading, date of shipment will be deemed to be this shipped on board notation date which is 14.May.2018.

Date of shipment on a bill of lading