ownership transfer without original B/L at port

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PRAKASHSBL12345
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ownership transfer without original B/L at port

Post by PRAKASHSBL12345 »

Dear Friends,
I have encountered a case of goods release at port without the original Bill of Lading requested by the shipping line as well as as the customer.
Pls suggest me what should i do , can i endorse the copy BL for the goods release at the port or deny the request till original is received at the banks counter.

What are the implications if i do as per the requirement of shipping line.
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picant
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Re: ownership transfer without original B/L at port

Post by picant »

Hi Pal,

usually a bank issues a bank guarantee in favour of the carrier, under instruction of the latter,
Sometime a telex release for a surrendered bill of lading suffices.
Endorsement on a copy of bill of lading has, IMHO, no sense.
Other comments appreciated
Ciao
dinesh2476
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ownership transfer without original B/L at port

Post by dinesh2476 »

Hi

Generally, banks ensure to keep their name in the consignee field to protect them from unexpected happenings unless there is a collateral-based LC opening. If there is cash collateral LC then the bank may think of releasing LC with consignee different name, if the practice in the applicant country to release the good without surrender the original bill of lading.

As picant rightly pointed out, the bank may think of releasing a shipping guarantee if there is a delay in receiving original documents and where the situation is goods already at the port of discharge earning customs charges

Thanks & Regards
Dinesh Kumar
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