Hallo All,
LC 46A States " full set of clean 'on board' marine bill of lading marked 'freight prepaid' made out to order and blank endorsed notifying the applicant with full name and address .:
my BL prepared; To Order with issuing bank as consignee"
is it a discrepancy?
what will happen if I kept the Consignee field with " To Order" and not mentioning any party name as per LC
whether notifying party can clear without bank's endorsement.
whether the party can clear the shipment before making the payment
please advise
thanks & regards
46A BL consignee field: To order without party's name
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tmantony
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picant
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Re: 46A BL consignee field: To order without party's name
Hi Pal,
your post is in the wrong forum dedicated to collections.
However with "made out to the order and blank endorsed" bill of lading, it means consigned to the order of shipper and endorsed
in blank by the same. The bill of lading will be a bearer's document and if somebody had an original could get the goods, including the notify party. The fact that you present the full set of bills, may guarantee that only after receipt from the bank said documents the goods may be taken.
Clearing and/or taking the goods before payment or the unertaking to pay by an issuing bank, it is always possible, but under ship agent liability, some time supported by a LOI or a bank guarantee, but this is another story......
Other comments appreciated
Ciao
PS Many banks ask for a bill of lading made out to the order and blank endorsed, to avoid entering in disputes regarding cargo, other
banks, i.e. Pakistan or Bangladesh they need a bill of lading made out to the order of negotiating bank and endorsed in favour of issuing bank!
your post is in the wrong forum dedicated to collections.
However with "made out to the order and blank endorsed" bill of lading, it means consigned to the order of shipper and endorsed
in blank by the same. The bill of lading will be a bearer's document and if somebody had an original could get the goods, including the notify party. The fact that you present the full set of bills, may guarantee that only after receipt from the bank said documents the goods may be taken.
Clearing and/or taking the goods before payment or the unertaking to pay by an issuing bank, it is always possible, but under ship agent liability, some time supported by a LOI or a bank guarantee, but this is another story......
Other comments appreciated
Ciao
PS Many banks ask for a bill of lading made out to the order and blank endorsed, to avoid entering in disputes regarding cargo, other
banks, i.e. Pakistan or Bangladesh they need a bill of lading made out to the order of negotiating bank and endorsed in favour of issuing bank!