Do the following two sentence have the same meaning?

[sky753]

Hello Everyone,

Do the following two sentence have the same meaning?

All Credits must stipulate an expiry date and a place for presentation of documents for payment, acceptance, or with the exception of freely negotiable Credits, a place for presentation of documents for negotiation.

All Credits must stipulate an expiry date and a place for presentation of documents for payment, acceptance,or a place for presentation of documents for negotiation,with the exception of freely negotiable credits.

Thanks
Richard.

[Harry Smith]

Originally Posted by weiqun ding

Hello Everyone,

Do the following two sentence have the same meaning?

All Credits must stipulate an expiry date and a place for presentation of documents for payment, acceptance, or with the exception of freely negotiable Credits, a place for presentation of documents for negotiation.

All Credits must stipulate an expiry date and a place for presentation of documents for payment, acceptance,or a place for presentation of documents for negotiation,with the exception of freely negotiable credits.

Thanks
Richard.

I don't see any difference between them.

[MikeNewYork]

Originally Posted by weiqun ding

Hello Everyone,

Do the following two sentence have the same meaning?

All Credits must stipulate an expiry date and a place for presentation of documents for payment, acceptance, or with the exception of freely negotiable Credits, a place for presentation of documents for negotiation.

All Credits must stipulate an expiry date and a place for presentation of documents for payment, acceptance,or a place for presentation of documents for negotiation,with the exception of freely negotiable credits.

Thanks
Richard.

Your quotation is highly technical, so I may not completely understand it.

For me, the phrase "with the exception of freely negotiable credits" seems very important. In the first sentence, this exception appears to apply only to the last item. In the second sentence, it may to apply to both items separarted by "or". This might make a difference.