What is Field 48: Period for Presentation?
Field 48: Period for Presentation is a field in MT 700 swift message type that is used to specify the period of time after the date of shipment within which the documents must be presented for payment, acceptance or negotiation.
This is an optional field.
According to current letter of credit rules 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.
According to current letter of credit rules a presentation including one or more original transport documents subject to articles 19, 20, 21, 22, 23, 24 or 25 must be made by or on behalf of the beneficiary not later than 21 calendar days after the date of shipment as described in these rules, but in any event not later than the expiry date of the credit.
Field 48: Period for Presentation:
This field specifies the period of time after the date of shipment within which the documents must be presented for payment, acceptance or negotiation.
The period of time is expressed in number of days.
The absence of this field means that the presentation period is 21 days, where applicable.
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