B/L endorsed in favour of issuing bank

User avatar

B/L endorsed in favour of issuing bank

Postby vivian - on 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

User avatar
vivian
 
Posts: 50
Joined: Thu May 14, 2009 2:55 pm

User avatar

B/L endorsed in favour of issuing bank

Postby mia vervacke - on 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'

User avatar
mia vervacke
 
Posts: 101
Joined: Fri Mar 26, 2010 12:23 am

User avatar

endorsement

Postby berry - on 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?

User avatar
berry
 
Posts: 329
Joined: Fri Nov 07, 2008 11:36 pm


Return to Letter of Credit Forum



Support us on Facebook


Your support is important to us

Similar Topics

Bill Of Lading Endorsed To Order Of Issuing Bank

Confirming Bank Require Draft Draw On Issuing Bank

Draft To Be Drawn On Issuing Bank Or Nominated Bank?

Credit Available With Nominated Bank Other Than Issuing Bank

Can An Issuing Bank Be A Nominated Bank?

Recent Reviews
Books & Training Review - ICC Guide to the Uniform Rules for Bank Payment Obligations

Books & Training Review - ISBP Online

Books & Training Review - UCP 600 Transport Documents

Latest in Trade Library
Issuing Bank Had to Pay Despite Discrepancies

UCP 600 Exclusions in Perspective

Use of Transport Document in International Trade

Your Right to Vote
Do you like our new mobile website for forum?
Yes
No
Havent Tried

Poll initiated by admin
BTS Crossword

Crossword Puzzle: CITF - 1.1
Crossword Puzzle: URR725 - 1.1
Crossword Puzzle: URDG758 - 1.1
Crossword Puzzle: URC522 - 1.1
Crossword Puzzle: UCP600 - 1.1



cron