Best Trade Solution

dear friends,

if a bank wanna return the documents, should it endorse the bill of lading in favor of the beneficiary?

regd

shahriar

dear shahriar,

to answer your question, i need to make a assumption; the document is discrepant.

to answer, to me there is no need to endorse the bill of lading. an issuing bank is only responsible for a complying presentation under the credit.

iLC

Dear Shahriar and ILC,
.
Assume that LC requires B/L made out to the order of the issuing bank. The issuing bank found discrepancies and applicant refused to accept docs. Since the B/L issued to order of issuing bank, doesn't it cause a problem for beneficiary to take the goods back, if B/L returned without endorsement?

Dear Navi and all,
If the shipper receives B/L back from the bank , he has the possibility that together with carrier/agent (the party who released such document) to declare such a B/L null and void and to issue a new one (we talk here the case full set has been returned). Other party stated in B/L cannot do that. I personally did that twice at the time when I worked in an export company.
Regards
Cristian

agree with cristian

iLC