IS IT POSSIBLE TO ISSUE A BILL OF LADING OR AN AIRWAY BILL CONSIGNED TO TWO BANKS?

QUESTION

Mr. Old man,

Is it possible to issue BL or AWL consigned to two banks?

Mirza 

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ANSWER

Hi Mirza,

I must admit that I have never come across a bill of lading or an airway bill consigned to two banks. However, it is quite possible. If the LC requires a bill of lading or an airway bill consigned to two banks, the presented bill of lading or the airway bill must so appear to comply with the LC requirement.

This rare requirement may arise when two banks jointly finance the applicant’s project.

Please note that in case the bill of lading or the airway is consigned to the two banks, e.g., Bank A and Bank B, then Bank A or Bank B authorize  the applicant to take delivery of the goods.

Best regards,

Mr. Old Man