what does the term "endorsement" mean in LC?
who endorsed the docuements? and what is the implication of endorsement? Is it very importan?
what is endorsement of dcouments?
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Safina
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picant
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endorsement
Hi Pal,
Normally a negotiable document may be assigned to someone by endorsement, it means a signature on the back of this document with the wording"for me to....... or order" or the like.
The implications of this endorsement vary from Country to Country depending on the local law; on a bill of lading,p.e. endorsement means "possess of the goods" where on an insurance document a mere legitimation to claim refund in case of goods damage, but showing that you are the owner of said goods. etc.
I dont know where are you located, if you have Common or Civil Law or Islamic Law too.
So ask your or your bank Legal Dept. for full information.
Other comments appreciated
Ciao
Normally a negotiable document may be assigned to someone by endorsement, it means a signature on the back of this document with the wording"for me to....... or order" or the like.
The implications of this endorsement vary from Country to Country depending on the local law; on a bill of lading,p.e. endorsement means "possess of the goods" where on an insurance document a mere legitimation to claim refund in case of goods damage, but showing that you are the owner of said goods. etc.
I dont know where are you located, if you have Common or Civil Law or Islamic Law too.
So ask your or your bank Legal Dept. for full information.
Other comments appreciated
Ciao
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TITI
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endorsement in lc
Hi,
Usually endorsement is use for negotiable docs, such as BL and Insurance cert.
In BL, endorsement is to assigned the ownership of the goods loaded.
While in Insurance Cert it may show the party who deserve to claim and get the advantage.
.
Other opinion welcome.
.
regards
Titi
PT BNI (Persero) Tbk
Usually endorsement is use for negotiable docs, such as BL and Insurance cert.
In BL, endorsement is to assigned the ownership of the goods loaded.
While in Insurance Cert it may show the party who deserve to claim and get the advantage.
.
Other opinion welcome.
.
regards
Titi
PT BNI (Persero) Tbk
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LLawrence
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- Location: UK
Re: what is endorsement of dcouments?
To make it easy:
Imagine documents are under the name X. In order for the company Y to get the documents, company X need to 'endorse' (which means pass the ownership) to compay Y by stamping/signing on the document. Stamp is usually at the back of the e.g. B/L as per picant's post.
Imagine documents are under the name X. In order for the company Y to get the documents, company X need to 'endorse' (which means pass the ownership) to compay Y by stamping/signing on the document. Stamp is usually at the back of the e.g. B/L as per picant's post.