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Bill Of Lading Is Endorsed By Different Branch
Posted: Fri Aug 02, 2013 10:43 am
by Khurshed
Dear Experts
BL made to the order of "XYZ Bank, P Branch" but BL endorsed by "XYZ Bank, Q Branch"
is it possible and how?
Regards
Khurshed
Endorsement not possible
Posted: Fri Aug 02, 2013 7:13 pm
by sayed
As per UCP-600 sub-article-3
‘Branches of a bank in different counties are considered to be separate banks.’
As consignee of BL as shown such as-
To the order of XYZ Bank, P branch
Then, on one can endorse without XYZ Bank, P branch
On the other hand,
BL shows to the order of XYZ Bank
Then, one of XYZ bank branch can endorse.
Regards
Md. Saidul Islam
EXIM Bank, Dhaka.
Endorsement of B/L
Posted: Sat Apr 12, 2014 1:11 pm
by realkisser
Hi
NO it can't be possible.
Only XYZ Bank, P Branch can endorse the B/L.
Thanks & Regards
BoL
Posted: Sun Apr 13, 2014 7:09 am
by Veerla
Unless the BoL issued "To Order of XYZ, P Branch" there's no bar on Q Branch endorsing BoL.
To recap. Goods are not directly consigned to the Applicant because the Issuing Bank has commitment to pay the Nominated/Negotiating/Confirming Bank, therefore goods are meant to be delivered to the order of the Issuing Bank. Not certain how Q Branch comes in to the picture but there's no bar (Unless ICC issued in its Opinions anything against it).
Different Branches of a Bank in different countries is a different Rule in the different context (of liability, Rules that govern the Bank, National/Applicable Laws etc.,).
Appreciate critical views.