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Confirm LC calls Truck BL consigned to the order
Posted: Mon Dec 07, 2020 4:35 am
by TradeLaporte
Dear members,
We have scenario where confirming bank refused presentation Truck BL straight consigned to the bank instead to the order as per LC . Is it valid cll? truck BL are not negotiable documents . Thanks in advance fr prompt comments
Re: Confirm LC calls Truck BL consigned to the order
Posted: Mon Dec 07, 2020 5:28 am
by TaiOanlan
It’s obvious discrepancy. LC requires you to have “To order” B/L. A B/L indicates consigned to the bank is not in line with the LC requirement.
Regards,
Re: Confirm LC calls Truck BL consigned to the order
Posted: Mon Dec 07, 2020 11:15 am
by picant
Hi Pal,
I dare say that the bank is wrong, ISBP 745 para J8 a. b. are giving correct instructions.
Other comments appreciated
Ciao
Re: Confirm LC calls Truck BL consigned to the order
Posted: Wed Dec 16, 2020 11:52 am
by MinhNguyen
In this case, confirming bank was definitely wrong. Truck B/L or Road Consignment note are not negotiable documents by their nature. According to ISBP745, Par J8 allowed the Road B/L to be straight consigned to an named entity or to Issuing bank or Applicant regardless of "To order of"-consignment requirement stated in the credit. Regards.
Re: Confirm LC calls Truck BL consigned to the order
Posted: Mon Dec 28, 2020 4:24 am
by vakilp
this is from urr, but must be similar when ?goods?=b.o.l? consigned to bank
If banks take responsibility of goods= reimbursement from whom = received collection
where the goods are consigned to COlB and the drawee has honoured the collection P/A, + the COlB arranges for the release of the goods the REMIB shall be deemed to have authorised the COB to do so.