- What is Letter of Credit
Field 48: Period for Presentation
Article 48: Period for Presentation is a field under the MT 700 Issue of a Documentary Credit swift message. This field specifies the period of time after the date of shipment within which the documents must be presented for payment, acceptance or negotiation.
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.
MT 700 Field 48: Period for Presentation: DEFINITION This field specifies the period of time after the date of shipment within which the documents must be presented for payment, acceptance or negotiation.
USAGE RULES 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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- Letter of Credit Basics
COMMENTS
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IAS 1 Presentation of Financial Statements sets out the overall requirements for the presentation of financial statements.
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Period costs are costs that cannot be capitalized on a company’s balance sheet. In other words, they are expensed in the period incurred and appear on the income statement. Period costs are also called period expenses.
Definition: A presentation is a form of communication in which the speaker conveys information to the audience. In an organization presentations are used in various scenarios like talking to a group, addressing a meeting, …