LC ISSUED FROM ONE COUNTRY & GOODS TO BE DELIVERED IN OTHER COUNTRY

imkhurshed · Post by **imkhurshed** » Tue Jun 26, 2018 1:08 pm

Dear Experts
Solicit opinion regarding following situations:

LC APPLICANT-ABC,USA
BENEFICIARY-XYZ, HONG KONG
LOADING PORT-CHINA
DISCHARGE PORT-CHITTAGONG
ISSUING BANK-PQR IN USA
PARTY-XXX IN BANGLADESH REQUESTING BANK-A IN CHITTAGONG TO ENDORSE THE SHIPPING DOCUMENTS TO TAKE
DELIVERY OF GOODS.
+++++++++++++++++++++++++++++
QUESTION:
IS IT POSSIBLE, IF SO HOW (MECHANISM)?
WHAT IS THE LIABILITY OF DOCUMENTS ENDORSING BANK?

Rgds
imkhurshed

picant · Post by **picant** » Tue Jul 03, 2018 10:31 pm

Hi Pal,

Wolfsberg Group elaborated a serie of controlls for Compliance, so where it is possible from UCP point of view it could be prohibited by laws, sanctions etc., However the bank in Chittagong shuold be ready to
endorse bill of lading....
Other comments appreciated
Ciao

ayub · Post by **ayub** » Sun Jul 08, 2018 5:04 pm

Hello,

As per your below,there is no bank involved from Bangladesh so no question arise for endorsing the shipping documents by Bangladeshi Bank.

Moreover, the LC opened from USA to Chinese supplier, so the following must show in Invoice, PL & COO.
Sold to ... USA client
Ship to.... Bangladesh (must specify client's name)

But, B/L must show 'Notify Party' to Bangladesh

This is call 'Cross Trade Business'

Hope above is clear.
Regards,
Ayub

LC ISSUED FROM ONE COUNTRY & GOODS TO BE DELIVERED IN OTHER COUNTRY

LC ISSUED FROM ONE COUNTRY & GOODS TO BE DELIVERED IN OTHER COUNTRY

KYC AML etc

Re: LC ISSUED FROM ONE COUNTRY & GOODS TO BE DELIVERED IN OTHER COUNTRY