Bangladesh Require B/L Made Out To Order of Negotiating Bank

[mia vervacke]

I'm a documentary credit specialist from Belgium.

1) Letter of credits i.f.o a beneficiary located in Bangladesh always require a bill of lading made out to order of negotiating bank and endorsed to order of issuing bank.

2) Sometimes we receive 2 bill of ladings for the same goods. I suppose a master bill of lading and a house bill of lading.

Can somebody explain to me the above 2 situations? Why does this only happen for Bangladesh files?

[picant]

Hi Pal,

I think that Bengalese Laws require a bill of lading issued in this way. Moreover i received AWB issued in such a way, I know that the documents checker stated that it was obliged by laws. Concerning the presentation of the Master and the House Bill of lading, I think that this is mistake, Master is for the performing carrier and House is for the shipper.
However many friends from Bangladesh could answer to this question.

Ciao

[bdesh]

Hi,

1) Letter of credits i.f.o a beneficiary located in Bangladesh always require a bill of lading made out to order of negotiating bank and endorsed to order of issuing bank.
> As per central bank's regulation of the country, bill of lading is to be made out in this way except where 100% advance payment received from the buyer.
2) Sometimes we receive 2 bill of ladings for the same goods. I suppose a master bill of lading and a house bill of lading.
> I'm not sure whether it happens only in case of Bangladesh. However, often credit states goods is to be shipped through the buyers' nominated freight forwarders and b/l issued by the later is acceptable for negotiation of the dox. It may be for the buyers' convenience.
Regards
bdesh (bangladesh)

[saziz]

Hi I am a Lawyer from Bangladesh. I am doing a research on the topic and considering the requirement of central bank being illegal. as such can you help me with the systems of Belgium, US, UK or canada which suggest that Master Bill need not be endorsed by bank. It would be a great help. I would be really happy if you can provide me with some relevant laws of those countries.

Thanks in advance.

[Rick]

Hi, last post is already quite old. But I am interested, if there is news about the regulation, that a B/L has to be drawn to the order of the AD (local bank in Bangladesh)? Is it still the case or is this regulation reworked?
To avoid all the endorsements by AD, issuing bank etc. we (importer from Germany) would like to have the Master and House B/L issued to us resp. our receiving agent.
Can anyone tell me, if this is against the law or is it possible?
Thanks in advance