Dear all,
Can a full set of 3/3 B/L which covers 1000 tons and it has been issued to the order of ABC company be endorsed by this ABC company as follow:
1. 1st original of 3 - To the order of AAA company for 300 tons
2. 2nd original of 3 - To the order of BBB company for 500 tons
3. 3rd original of 3 - To the order of CCC company for 200 tons
Does anyone came across with this situation?
Thanks in advance.
Tricky situation, pls help
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- shahriar
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not possible
dear cristian,
in my opinion its not possible. BL usually contains a clause that presentation of one bill of lading will invalidate the others. so its not possible to split the consignee.
in my opinion its not possible. BL usually contains a clause that presentation of one bill of lading will invalidate the others. so its not possible to split the consignee.
- nesarul
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indeed tricky
Dear,
Its indeed a very interesting and tricky question. I have a penchant to participate on it.[i assume from your query that your case is relevant to further endorsement i.e. outside banking activity related, if no....]
I request cristiand969 to elaborate the question:
Credit conditions regarding bill of lading
Presentation of bill of lading
and further endorsement by the applicant and any other if any.....
Eagerly awaiting for your reply....
Regards
Nesar
Its indeed a very interesting and tricky question. I have a penchant to participate on it.[i assume from your query that your case is relevant to further endorsement i.e. outside banking activity related, if no....]
I request cristiand969 to elaborate the question:
Credit conditions regarding bill of lading
Presentation of bill of lading
and further endorsement by the applicant and any other if any.....
Eagerly awaiting for your reply....
Regards
Nesar
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Dear Shahriar and Nesar
I'll have to structure a letter of credit based on the situation described . One of my customer gave me a copy of such B/L and it is ultimate beneficiary by endorsement for a partial qty of 500 tons.
In utilization of each of 2 different credits received + the coming one from my bank, the first consignee (to the order of XYZ) will present to his bank 3/3 B/L but each of them endorsed as described.
I know that I have to ask for 1/3 B/L to make the credit workable but I need to know if this endorsement is possible in real life as I don't have to much info about legal situation in maritime transport.
Thanks in advance for your valuable information
Cristian
In utilization of each of 2 different credits received + the coming one from my bank, the first consignee (to the order of XYZ) will present to his bank 3/3 B/L but each of them endorsed as described.
I know that I have to ask for 1/3 B/L to make the credit workable but I need to know if this endorsement is possible in real life as I don't have to much info about legal situation in maritime transport.
Thanks in advance for your valuable information
Cristian
- shahriar
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hummm may be possible if
dear cristian,
it may be possible. some carrier offer a service called "split delivery". but not sure that whether split delivery supports such endorsement. this may involve some legal issue as well since there are history of tax evasion in this way. so far i know many countries by law prohibits split delivery
it may be possible. some carrier offer a service called "split delivery". but not sure that whether split delivery supports such endorsement. this may involve some legal issue as well since there are history of tax evasion in this way. so far i know many countries by law prohibits split delivery
- nesarul
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indeed tricky
Dear Cristian,
I am sorry i understand nothing from your case.. May be i am fully inexperienced on it.
Regadrs
Nesar
I am sorry i understand nothing from your case.. May be i am fully inexperienced on it.
Regadrs
Nesar