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Doubts on B/L

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Sun, 04/05/2009 - 23:34
Chiew Yet
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Joined: 04/05/2009
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Dear Experts,

Please advise :-

1) why B/L have to endorse overleaf of the B/L while cosign to order? What's the advantage or disadvantage to shipper?

2)  Appreciate if you can forward to me softcopy of latest UCP 600 and incoterm 2000.

 

 

Thanks n regards

‹ Enquiry on LC Expiry Date Third Party BL ›
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Mon, 04/06/2009 - 07:11
#1
smmujeeb
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Joined: 07/29/2008
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Doubts on B/L

Dear Yet,

When B/L is made out to order of Yet, this means only Yet has an authroity to take the delivery of good.

In order to transfer the title of goods, B/L needs to be endrosed.

The title of the goods wil not be transfer until and unless B/L endorsed.

Hope this clarifies your doubt.

Regards!!!!

Mujeeb :-)

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Mon, 04/06/2009 - 06:26
#2
Sparrow
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Joined: 04/01/2009
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When a b/l is made out "to

When a b/l is made out "to order" it is negotiable and the ownership of the goods under this b/l can only be transferred to another party by endorsement.

When the b/l shows made out " to order". This means that it is made out to the order of the shipper so the shipper has to endorse the b/l either in blank or to the order of another party as indicated in the l/c. 

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Mon, 04/06/2009 - 00:15
#3
giribinay
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Joined: 07/16/2008
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BL IS A QUASI NEGOTIABLE

BL IS A QUASI NEGOTIABLE INSTRUMENT. AS SUCH FOR TRANSFERRING THE TITLE OF THE GOODS, THE BL MUST BE ENDORSED IN THE NAME OF THE PERSON/CO TO WHOM THE TITLE OF THE GOODS HAS TO BE TRANSFERRED.

THE SHIPPER (BENEFICIARY OF LC) CAN ENTITLE THE BENEFICIARY OF THE GOODS TO THE APPLICANT/CO IT DESIRES, SO THAT ONLY THE PERSON/CO ENTITLED CAN RELEASE THE GOODS AND NO ONE ELSE, UNTIL T HE TITLE IS FURTHER TRANSFERRED TO THE THIRD PERSON BY THE TITLE HOLDER. 

I HOPE YOU ARE SATISFIED WITH THE ANSWERS.

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