Insurance Policy Shows "To Applicant" As Assured Party

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Insurance Policy Shows "To Applicant" As Assured Party

Postby Payal - INDIA on Thu Sep 19, 2013 12:14 pm

Team,

We are in receipt of lc wherein lc states:

Insurance/Marine Insurance policy in the currency of the crefit in assignable form and endorsed in blank for CIP/CIF value plus 10 pct covering ...... clauses.

Now beneficiary has presented Insurance policy wherein the assured party stated as "To Applicant" and it is not blank endorsed.

Is this a discrepancy?

Comments appreciated.

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Payal
 
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No discrepancy

Postby honey0101 - India on Thu Sep 19, 2013 7:10 pm

ISBP K21,

Others comments appreciated.

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honey0101
 
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there is no discrepancy

Postby mentis - Turkey on Mon Sep 23, 2013 11:31 am

Who will endorse it? Applicant?

No discrepancy

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mentis
 
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Poorly drafted L/C

Postby WanDan - Germany on Mon Sep 23, 2013 6:55 pm

Hi,

this

Insurance/Marine Insurance policy in the currency of the crefit in assignable form and endorsed in blank for CIP/CIF value plus 10 pct covering ...... clauses.


is again an example for a poorly drafted L/C.

BTW: What is in assignable form? And under which law?

Cheers,
Dan

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WanDan
 
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