What is Field 31C: Date of Issue?
Field 31C: Date of Issue is a field in MT 700 swift message that is used to indicate the letter of credit issuance date.
This is an optional field, not mandatory. However almost all the letters of credit issued in swift format includes this field.
This field specifies the date on which the issuing bank (Sender) considers the documentary credit as being issued.
Date must contain a valid date expressed as YYMMDD.
An issuing bank is irrevocably bound to honour as of the time it issues the credit.
The commitment of the issuing bank to honour begins with the issue of the credit.
Field 31C: Date of Issue
The absence of this field implies that the date of issue is the date this message is sent.