Uncategorized NOTIFY PARTY By Mr Old Man Posted on October 11, 2018 1 min read 0 0 3,702 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr Old Man, Have a good day! I have one question and need your answer. Is it possible in the BL to mention the notify party a party other than applicant like shipping company’s name? Please advise your opinion. Thanks & Regards, Ziyad —– ANSWER Hi, It is possible for a bill of lading to indicate the details of any notify party if the LC is silent as to the details of a notify party. However, when the details of the applicant appear as notify party on a bill of lading, these details including the applicant’s address and contact details are not to conflict with those stated in the LC. Please note that a bill of lading may also indicate the details of one or more additional parties in addition to the details of one or more notify parties stated in the LC. Please also refer to ISBP 745 E14. 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?