issuing bank as consignee on b/l

hi,

if the seller's consigned b/l to the order of issuing bank. in this case issuing bank will be owner of consignmet? and what is benefit for seller and buyer as well.

Regds

Imran Nazir 

 

 

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issuing bank as consignee on b/l

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 :-) 

issuing bank as consignee on bl

dear Mr. Mujeeb

pls explain more.

regds

Imran Nazir

ISSUING BANK AND B/L

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.

Issuing bank as consignee in BL

We received a transferable LC, but we dont want that end buyer know seller, than we ask the end buyer to issue as LC with conditions that BL in negociable ( issuing bank as consignee and our company as shipper) and with seller that C/O, phytosanitary, insurance certificat (all on our name as seller)

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