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Hi to everyone!

According to UCP600, art. 28.e., insurance document should be issued or, at least, indicate that the cover is effective from a date not later than the date of shipment.
ISBP paragraph A13 says that that document showing later date of signing that the the date of issuance will be deemed to have be issued on the date of signing and paragraph K11 says that in the absence of any other date, date of countersignature will be deemed to be the evidence of the effective date of the insurance coverage.

We've received insurance policy that shows date of issue as May, 12th which is also date of shipment. However, on the back side of the document, there is an endorsement (stamp and signature) with indicated date May, 15th (date later than the shipment date).

Would you consider it as a discrepancy (insurance coverage effective from a date later than the date of shipment) according to ISBP A13 or would you consider document complying as per UCP600 28e?
Also, would you consider this endorsement as a countersignature or not?

Thank you kindly in advance for any help you can give me to clear this matter for me.

Regards

Hi Pal,

IMHO, endorsement later than shipment date hasno meaning in the effective validity of insurance.
Other comments appreciated
Ciao

Hi,

I agree with Picant.

In my opinion, endorsement and countersignature are different issues. Countersignature (if required) is necessary to validate the document but endorsement has no relation with validity of insurance. By endorsing a document, the party who has the right to claim under the document is being changed. Therefore, before endorsement the document is still valid and covers the risks stated thereon.
regards

Hi,
If insurance documents not specifically mention start date of insurance coverage,
it will a discrepancy, infact we have received same discrepancy in past.
Regards,
M. Saqib khan