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B/L endorsed in favour of issuing bank

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vivian
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B/L endorsed in favour of issuing bank

Postby vivian » Sun Apr 11, 2010 11:58 am

Hi, export,

We have a L/C, and this L/C call for full set of marine bills of lading issued to the order of the shipper endorsed in favour of issuing bank.

any export may tell me, what is " endorsed in fovour of issuing bank "?

tks
vivian

mia vervacke
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B/L endorsed in favour of issuing bank

Postby mia vervacke » Tue Apr 20, 2010 1:57 am

B/L: Transfer of the title of the goods passes by mere endorsement on the back of the document.

If B/L is showing as consignee 'to order of shipper', the shipper will transfer the title of the goods 'in favour of issuing bank' by stating 'endorse to order of (name of issuing bank)' + signature of the shipper on the back of the document.

If documents are accepted by issuing bank, the issuing bank will transfer the title of the goods to the beneficiary by endorsing the B/L with their signature.

In fact it has the same function as a bill of lading showing as consignee 'to order of issuing bank'

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berry
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endorsement

Postby berry » Tue Apr 20, 2010 10:40 am

endorsed in favor of issuing bank means that the shipper will endorse the bill of lading in favor of issuing bank. simple. please note that if the LC calls for bill of lading in favor of shipper and blank endorsed, bill of lading issued to the order of issuing bank should also be acceptable. by the way, i have a question;

endorsed in favor of issuing bank; this is not very clear to me. should it be in negotiable form? or a straight endorsement will work?


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