port of loading in transferable letter of credit

jim · Post by **jim** » Mon Mar 30, 2009 7:27 pm

dear sir,
if a transferable letter of credit shows port x as the port of loading and if it is transfered to a second beneficiary for whom port y is convenient can he ship the goods from port Y?

cristiand969 · Post by **cristiand969** » Tue Mar 31, 2009 6:05 pm

I'm afraid I haven't undertood very clear your question but to my best guess you may have asked whether a credit showing Port of loading X permits shipment from port Y under transferred credit.
In accordance with art. 38 g you are not allowed to change anything but few point as described in this article. However, if the goods is shipped from port Y and pass through port X and B/L bears a notation 'shipped on board M/V .... at port X' , you have a compliant transport document.
The journey between port Y and X is not taken ito account when checking transport docs (see art. 20 a iii)

SHAMEER · Post by **SHAMEER** » Wed Apr 01, 2009 2:59 pm

The second bnfys credit must not be change regarding to the port of Loading. It must be same as in the Master L/c

Regards.
MS