An antedate is a date entered on a legal contract or check before the actual date of occurrence, also known as a”backdate.”
What is ante dating an instrument?
An instrument is ante-dated when it contains a date earlier than the actual issuance. It is also known as ‘backdate’. For example, a check is drawn on the 10th of July 2000 but if the date is written as the 1st of July 2000, then it will be called an Antedated Check.
What is an ante-dated bill of lading?
Antedated bill of lading (Fraud and bills of lading.) The bills of lading, signed and issued by the shipowner’s port agents, are nevertheless dated 15 July, indicating that the goods were loaded on that date and not later. The buyers are unaware of the false dating and accept the bills of lading.
Is ante-dated or post dating an instrument illegal?
– The instrument is not invalid for the reason only that it is ante-dated or post-dated, provided this is not done for an illegal or fraudulent purpose. The person to whom an instrument so dated is delivered acquires the title thereto as of the date of delivery.
Does antedate mean before or after?
1a : to date as of a time prior to that of execution. b : to assign to a date prior to that of actual occurrence. 2 archaic : anticipate. 3 : to precede in time.
What is a anteroom mean?
: a small outer room that leads to another room and that is often used as a waiting room.
What is the presumption as to the date in a negotiable instrument?
Presumption as to Date: Where a negotiable instrument is dated, the presumption is that it has been made or drawn on such date, unless the contrary is proved.
Is a bill of lading required by law?
It is a legally binding document providing the driver and the carrier all the details needed to process the freight shipment and invoice it correctly. A bill of lading must be completed and provided to the shipper when your freight is to be picked up.
When to apply for antedated Bill of lading?
Switch to the light mode that’s kinder on your eyes at day time. Antedated bill of lading (Fraud and bills of lading.) A modern case may help to introduce the problems that can arise and identify some of the important issues. A sale contract requires the cargo to be loaded and bills of lading to be dated no later than 15 July.
Is it safe to use ante dated bills in China?
Shipowners must be extremely wary as claims arising from ante-dated bills of lading will not be covered by their P&I insurers and the risks of claims in China are very high. Ante-dated bills should simply not be issued in any circumstances. With thanks to Mark Sachs of Thomas Cooper & Stibbard for preparing this article.
What are the problems with ante dated bills?
The two problem areas are ante-dated bills of lading (a potential nightmare for shipowners) and allegedly discrepant documents (a more manageable problem under the Uniform Customs and Practice for Documentary Credits but nevertheless a headache for traders and bankers).
Can a letter of credit not be ante dated?
However, it is often the case that the beneficiary of the letter of credit is unaware of the ante-dating, say, when he is an intermediate holder of the bill of lading in a chain of sale or when the shipowner backdates the bill of lading to meet the required shipment date.
