dear all,
I want to know clearly about endorsement of b/l without recourse.
If our bank endorsed in blank on B/L as L/C stipulated, risks in receiving goods happened, ourbank have responsibility of it.
But under UCP, bank deal with docs and not with goods, services or performance to which the docs may relate.
Can you explain bank's responsibilities on endorsement of B/L (recourse or without recourse) if disputes and lawsuits are happenning
thanks
bill of lading's endorsement without recourse
-
shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
endorsement with recourse
dear dua,
i am not sure whether we can use the concept of recourse for BL. if is for cheques i guess. if we use the concept of recourse in BL, i think its always without recourse for the same reason you specified; bank deals with document. anyway, im not really sure whether we can say BL endorsed without recourse.
regd
shahriar
i am not sure whether we can use the concept of recourse for BL. if is for cheques i guess. if we use the concept of recourse in BL, i think its always without recourse for the same reason you specified; bank deals with document. anyway, im not really sure whether we can say BL endorsed without recourse.
regd
shahriar
-
sunny
- Posts: 23
- Joined: Thu Dec 11, 2008 11:27 pm
just a question
Hi all,
I wonder if the bill of lading can ever be endorsed with or without recourse the like as certain financial instruments, how could be the recourse applied? Shipper to ask the goods back?
brgds
Sunny
I wonder if the bill of lading can ever be endorsed with or without recourse the like as certain financial instruments, how could be the recourse applied? Shipper to ask the goods back?
brgds
Sunny
-
picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Italian Banks ' endorsement
Hi Pals,
the endorsement of a bill of lading by the italian Banks is made as follows:
Please deliver the goods to...............
date signature + stamp
(the bank is only acting as transmitter of the present document and declares "Ad abundandia" that declines towarders holders/bearers of the same, any liabilitiy about the goods indicated in said document".(free translation)
In poor words the bank states that is an authorized operator in dealing with documents, but has no knowledge of their content.
Other comments appreciated.
Ciao
the endorsement of a bill of lading by the italian Banks is made as follows:
Please deliver the goods to...............
date signature + stamp
(the bank is only acting as transmitter of the present document and declares "Ad abundandia" that declines towarders holders/bearers of the same, any liabilitiy about the goods indicated in said document".(free translation)
In poor words the bank states that is an authorized operator in dealing with documents, but has no knowledge of their content.
Other comments appreciated.
Ciao
-
shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
agree with sunny
i agree with sunny. very good good question. 
i think what picant pointed out should be the standard procedure or is the standard procedure under UCP. i have seen quite a few scams where the actual goods has not been delivered. but in no case bank was questioned why did the endorsed the BL. of course banks were asked on did they follow the standard procedure; like credit report, market survey etc.
regd
shahriar
i think what picant pointed out should be the standard procedure or is the standard procedure under UCP. i have seen quite a few scams where the actual goods has not been delivered. but in no case bank was questioned why did the endorsed the BL. of course banks were asked on did they follow the standard procedure; like credit report, market survey etc.regd
shahriar