Mr Old Man Q&A BILL OF LADING SUBJECT TO CHARTER PARTY NOT ACCEPTABLE By Mr Old Man Posted on February 17, 2017 1 min read 3 0 4,549 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Can you please explain me meaning of below: Bill of Lading indicating that it is subject to charter party is not acceptable. Sam ——— ANSWER Hi, The Bill of Lading that contains an indication “issued pursuant to charter party dated…”, “freight payable as per charter party” or “issued subject to charter party” or bears a title “Charter Party Bill of lading”… is deemed to be Charter Party Bill of Lading (CPBL). Where the L/C states “CPBL is not acceptable”, the bill of lading that contains such indication is not acceptable. CPBL is an agreement between the charterer and the ship owner. In case of any dispute with the charterer, the ship owner would have the right to lay claim to the goods shipped on board the ship. For this reason, banks would refuse to accept L/C that requires or allows the presentation of CPBL. Kind regards, Mr. Old Man ————
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?