Thanks Jeremy and all. It seems "the place where the draft is payable" is referring to the place of the currency of payment. That being the case, there is no question about the issuing bank having to make the necessary arrangement for timely payment to be made in the place of the currency of payment. If the due date happens to be a non-banking day in the place of the currency of payment, payment will be due on the first banking day that follows.
Regards, Gabriel