Original BL + COO to Consignee directly

[kirti]

Hi, Frendz,

I have this very different query
I am aware that Original docs are very important as far as LC's are concerned and they need to presented for negotiation
Yet, request if any one can help on this one:

A buys from B on LC basis and sells to C - B will be invoicing to C
C is very clear that the most important docs for them are BL + COO to release the cargo
Now the transit time of the shpt is 2-3 days from load port to discharge port

However,as per LC terms, in no way can the above docs reach C before shpt arrival

Please advise how to go about LC terms for this one??
is there provision in UCP whereby we can add a clause saying "Original BL + COO to be sent to Consignee, Bank shall accept NN Copies of BL for negotiation provided the same are signed and stamped by the Carrier/agents" ??

will appreciate a faster reply to this one

[shahriar]

Certainly you can add such clause. In fact there is no requirement in ucp that bl and certificate of origin is to be presented. But you must consider the risk involved. There is a chance for the applicant to release the cargo while the issuing bank refuses payment over discrepancies.

[picant]

Hi Pals,

Frankly, I dont understand the transaction. However when the distance between port of loading and port of discarge, e.g. ports in Mediterranea Sea, it is common to send one original of b/l (1/3) and other documents via captain' mail, so the documents will be at disposal of the applicant together with the goods. For security reason the bill of lading is consigned to the order of the bank, quoting eventual l/c number.

Other comments appreciated

Ciao

[iLC]

i agree with the answers. too much risky. but i don't understand. it appears to be a back to back transaction. the general reason of such transactions is to hide the related parties. if C are to sent the goods and BL directly to A, why to use another LC? why not a transferable LC?