Hi friends..
We received an LC and requested us to add our confirmation.
But there are some terms that confuse me.
Copies of docs. including AWB will be presented to us and originals will accompany the goods to be handed directly to applicant and a carrier declaration to this effect will be presented also. Moreover, AWB will be issued to name of applicant. Don't these terms constitute a risk for beneficiary?
Confirmed LC Where Original Doc Sent with Goods To Applicant
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Navi
- Posts: 362
- Joined: Mon Jun 23, 2008 4:17 pm
- First Name: Olcay
- Last Name: Özcan
- Organization: Bank
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- Location: Turkey
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iLC
- Posts: 504
- Joined: Thu Jun 26, 2008 10:33 pm
Re: Confirmed LC which original docs sent with goods
dear navi,
thats why you are asked to add your confirmation. besides there are few things to understand. Airway bill is not a negotiable instrument. if you follow the law, then it must be consigned to the applicant. even if you have the original document, its not tough for the applicant to release cargo.
as a confirming bank, you should not be concerned about the cargo. if you find the document in order, pay the beneficiary and get yourself reimbursed from the issuing bank.
iLC