what is endorsement of dcouments?

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin; besttradesolution.com
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Safina
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what is endorsement of dcouments?

Post by Safina » Tue Jul 22, 2014 2:09 pm

what does the term "endorsement" mean in LC?
who endorsed the docuements? and what is the implication of endorsement? Is it very importan?

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picant
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endorsement

Post by picant » Wed Jul 23, 2014 11:00 am

Hi Pal,

Normally a negotiable document may be assigned to someone by endorsement, it means a signature on the back of this document with the wording"for me to....... or order" or the like.
The implications of this endorsement vary from Country to Country depending on the local law; on a bill of lading,p.e. endorsement means "possess of the goods" where on an insurance document a mere legitimation to claim refund in case of goods damage, but showing that you are the owner of said goods. etc.
I dont know where are you located, if you have Common or Civil Law or Islamic Law too.
So ask your or your bank Legal Dept. for full information.
Other comments appreciated
Ciao

TITI
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endorsement in lc

Post by TITI » Thu Aug 14, 2014 9:01 am

Hi,
Usually endorsement is use for negotiable docs, such as BL and Insurance cert.
In BL, endorsement is to assigned the ownership of the goods loaded.
While in Insurance Cert it may show the party who deserve to claim and get the advantage.
.
Other opinion welcome.
.
regards
Titi
PT BNI (Persero) Tbk

LLawrence
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Re: what is endorsement of dcouments?

Post by LLawrence » Fri Apr 19, 2019 2:33 am

To make it easy:
Imagine documents are under the name X. In order for the company Y to get the documents, company X need to 'endorse' (which means pass the ownership) to compay Y by stamping/signing on the document. Stamp is usually at the back of the e.g. B/L as per picant's post.

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