ISBP § 16 a and ISBP 17

International Standard Banking Practice
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MargaretaSkoglund
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Joined: Fri Apr 05, 2019 5:22 pm

ISBP § 16 a and ISBP 17

Post by MargaretaSkoglund » Thu Jul 26, 2007 1:00 am

Dear all, An issue which might seem crystal clear to you all, but once you start scrutinize it, it might cause some headache -namely ISBP § 16 a "within 2 days after" seen in the light of "within" as defined in ISBP § 17. (We had it already under ISBP publ. 645) In case an event takes place the 20th of July e.g. the shipment -and the L/C requries a shipment advice sent "within 2 days after the shipment" - would you accept a shipment advice dated the shipment date?
Thank you for your kind attention and best regards
Marianne Wabnik SEB, Sweden.
NigelHolt
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Joined: Fri Apr 05, 2019 5:24 pm

ISBP § 16 a and ISBP 17

Post by NigelHolt » Fri Jul 27, 2007 1:00 am

Dear Marianne,

Hope you are well and the weather is better in Sweden than over here.

I would accept a shipment advice dated the shipment date.

Para 17 is simply saying that with regard to calculating when the specified period begins or ends one does not include the date of the ‘determining’ event. It is not saying the required action cannot occur on the date of the 'determining' event.

Regards, Jeremy
MargaretaSkoglund
Posts: 12
Joined: Fri Apr 05, 2019 5:22 pm

ISBP § 16 a and ISBP 17

Post by MargaretaSkoglund » Fri Jul 27, 2007 1:00 am

Thank you dear Jeremy for your feedback. We read a lot about Britains worst floods - we would like to express our sympathy, what a nightmare - hopefully you and your family are well.

Having given the issue an extra thought I'm bound to agree with you - however still we find that ISBP could have been more clear about it - let's hope for the revised version!
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