How to Determine Date of Shipment on an Air Transport Document?

After reading this article, you should understand how the date of shipment on an air waybill is determined according to the letter of credit rules.

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An air waybill is a document covering the carriage of goods by plane from one airport to another.

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 can be determined in two ways on an air waybill.

Option 1 => There is no actual date of shipment notation on the air waybill:

  • The date of issuance of the air waybill will be deemed to be the date of shipment.

Option 2=> Air waybill indicates, by notation, the actual date of shipment: Notation date will be deemed to be the date of shipment as specified below:

  • Date of the actual date of shipment notation/stamp => this date will be deemed to be the date of shipment.
How to determine date of shipment on an Air Transport Document?
An air waybill with a separate actual date of shipment notation. The date of shipment on this air waybill is 15.05.2014 as indicated on the notation.
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