LC requires both FCR and Bill of lading

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nura
Posts: 16
Joined: Fri Jan 30, 2009 12:25 pm

LC requires both FCR and Bill of lading

Post by nura » Sun May 02, 2010 11:42 am

We have received a LC with the following clauses

One original FCR issued by OOCL Logistic and 3/3 original marine bills of lading issued by approved ocean carrier consigned to the order of the issuing bank. The cargo receipt date shown the forwarder cargo receipt will be treated as the latest shipment date. In case forwarder cargo receipt not showing the cargo receipt date, the sailing date or on board date on the FCR will be treated as the latest shipment date

how can we manage this clause

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picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Handle with care!

Post by picant » Sun May 02, 2010 3:57 pm

Hi Pal,

I think that the issuing bank will ask for separate transport document, FCR from seller warehouse to the port, than a bill of lading from port of loading to the port of discarge.The date of latest shipment will be the date of FCR. This could normally be done by a combined or multimodal bill of lading, but specially for areas like Australia, the bill of lading show POL or POD and vessel as "Intended", du to the fact that goods are taken up miles and miles far from a port of loading. So the parties decided for a document "ab origine" ad a relative bill of lading issued at the port of loading. First problem, how many days for presentation, after the date of shipment, it is possible to obtain original bills of lading in that period of time? What is the delivery term? OOCL is a shipping company too, isnt?
Let me know
Ciao

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