Insurance Policy Shows "To Applicant" As Assured Party
Posted: 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.
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.