dear sirs,
could you please tell me the differences between a "to order" "to order of bank xxx" and "to order and blank endorse" bill of lading?
to the order
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Re: to the order
Hi pal,
to the order, means to the order of shipper,
to the order and blank endorsed means to the order of shipper, and the latter will be endorse, by signing the Bill of lading on the back, without indication the entity in favour of which the endorsement has been effected.
to order of bank XXX, the specific box, will contain such sentence, and the bank indicate will provided the endorsement to the true importer(trader).
Some time first sentences are used to avoid any complicance by the banks regarding the property of goods. Banks are not involved in goods trading but only in documents, in certain countries the fact that the b ill of lading is consigned to the order of a bank,means that the bank has a lien on the goods.
Hoping to be useful
Ciao
to the order, means to the order of shipper,
to the order and blank endorsed means to the order of shipper, and the latter will be endorse, by signing the Bill of lading on the back, without indication the entity in favour of which the endorsement has been effected.
to order of bank XXX, the specific box, will contain such sentence, and the bank indicate will provided the endorsement to the true importer(trader).
Some time first sentences are used to avoid any complicance by the banks regarding the property of goods. Banks are not involved in goods trading but only in documents, in certain countries the fact that the b ill of lading is consigned to the order of a bank,means that the bank has a lien on the goods.
Hoping to be useful
Ciao