Letter of Credit Forum

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Imran Nazir, why Issuing bank issue B/L consigned to order of Issuing bank, to keep the title with them.

If buyer default, then issuing bank has alright to sell the goods and transfer the title.

Here in this case, buyer cant take the delivery of goods until the B/L is endorsed by issuing bank.

Regards!!!!

Mujeeb :-) 

IF  THE PRESENTATION HAVE BEEN HONORED, ISSUING BANK OWN ALL THE DOCUMENTS INCLUDING THE B/L.  BUT THE PRESENTATION  ARE NOT BEEN HONORED,THE BL AND THE CONSIGNMENT DO NOT OWN THE ISSUING BANK EVEN IF SELLER CONSIGNED B/L TO THE ORDER OF ISSUING BANK.

THERE IS NO ANY BENEFIT FOR SELLER AND BUYER IF THE B/L  WOULD BE PRESENTED UNDER THE L/C.IN COMMON,THIS IS A REQUIREMENT OF THE ISSUING TO CONTROL THE RISK OF THE BUYER.