LC Calls For Insurance Policy Blank Endorsed

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TradeLaporte
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LC Calls For Insurance Policy Blank Endorsed

Post by TradeLaporte » Wed Sep 18, 2013 12:25 am

LC call for insurance policy blank endorse. Beneficiary presented insurance certificate not endorse. Is this a valid discrepancy .

Dear members your comments appreciated

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picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Discrepant

Post by picant » Wed Sep 18, 2013 3:02 am

Hi Pal,

a certificate of insurance will not accepted in lieu of insurance Policy.
Other comments appreciated
Ciao

haribargava
Posts: 36
Joined: Thu Mar 12, 2009 5:34 pm

Discrepant

Post by haribargava » Wed Sep 18, 2013 4:13 pm

Yes it is discrepant...Agree with Picant ,Certificate cannot be presented in place of policy.

Would like to add on the endorsement part - If a LC requires Insurance document to be endorsed there are two options available- One it can be endorsed as per LC requirement or it can me made out to bearer (In this scenario no endorsement required).

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