LOST IN TRANSIT: WHEN THE NOMINATED BANK ISN’T ACTING AS A NOMINATED BANK QUESTION Hi, I’d like to seek your advice on the request to “skip document checking” as described below: The LC is available with any bank by negotiation. The beneficiary submitted the documents to Bank A. At the beneficiary’s instruction, Bank A forwarded the documents to the issuing bank, stating in the covering schedule that it had not checked the documents. … Read More
WHERE ORIGINAL BILLS OF LADING ARE LOST IN TRANSIT WHERE ORIGINAL BILLS OF LADING ARE LOST IN TRANSIT QUESTION Dear Mr. Old Man! We need your advice regarding documents (including original bills of lading made out to the order of our bank) lost in transit. Our bank issued LC in favor of the beneficiary in Indonesia. As the goods arrived at the port of discharge before the documents, our … Read More
WHERE ORIGINAL BILLS OF LADING ARE LOST IN TRANSIT QUESTION WHERE ORIGINAL BILLS OF LADING ARE LOST IN TRANSIT QUESTION Dear Mr. Old Man! We need your advice regarding documents (including original bills of lading made out to the order of our bank) lost in transit. Our bank issued LC in favor of the beneficiary in Indonesia. As the goods arrived at the port of discharge before the documents, … Read More