Dear all,
would you please tell me the reason for an insurance document is not like a bill of lading in that it may be endorsed continually to different parties ?
thanks so much !
be endorsed continually
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loankim
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bdesh
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endorsement
Hi,
Could u pls simplify the question?
Could u pls simplify the question?
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loankim
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i mean...
Dear all,
Any documents requiring endorsement, such as a negotiable bill of lading or insurance policy,should be endorsed prior to sending them.
In practice, i see that if you endorse on insurance certificate, it means the right to claim the benefit under the policy will be released and transfered from you to named person ( to order of A ), or the bearer ( endorse in blank )
If A sells that goods to B. He does not endorse contiually . It's a sole endorsement on insurance policy.
That is contrary with the endorsement of bill of lading.
Pls tell me the reason of it .!!!
rgds,
Any documents requiring endorsement, such as a negotiable bill of lading or insurance policy,should be endorsed prior to sending them.
In practice, i see that if you endorse on insurance certificate, it means the right to claim the benefit under the policy will be released and transfered from you to named person ( to order of A ), or the bearer ( endorse in blank )
If A sells that goods to B. He does not endorse contiually . It's a sole endorsement on insurance policy.
That is contrary with the endorsement of bill of lading.
Pls tell me the reason of it .!!!
rgds,
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iLC
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not sure
dear loankim,
i am not still very clear with your question. are to talking about reselling. this is what i understood from your question-
A sold goods to B and endorsed the insurance policy in favor of B. B then sold the goods to C but didnt endorsed the policy in favor of C. is it your question?
if yes, then it all depends on the sales contract. ideally the right to claim under the insurance policy and ownership of the goods go side by side. hence, B should have endorsed the policy in favor of C. however if the policy was endorsed in blank or to the order of bearer by A, then there is no reason to endorse the insurance policy further.
i am not still very clear with your question. are to talking about reselling. this is what i understood from your question-
A sold goods to B and endorsed the insurance policy in favor of B. B then sold the goods to C but didnt endorsed the policy in favor of C. is it your question?
if yes, then it all depends on the sales contract. ideally the right to claim under the insurance policy and ownership of the goods go side by side. hence, B should have endorsed the policy in favor of C. however if the policy was endorsed in blank or to the order of bearer by A, then there is no reason to endorse the insurance policy further.