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Notify party in Bill of Lading

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Tue, 11/17/2009 - 21:42
KHRATHA
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Joined: 12/05/2008
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Dear experts

 

Bill of lading made out to the order of ABC Bank and Notify CDE. My question are:

1. Can ABC Bank endorses to  XYZ as per CDE requested?

2. If the bank endorses to CDE , can CDE endorses to XYZ ? 

3. Can notify party in bill of lading leaves in blank?

 

I very much appreciate your comment.

 

Regards

 

Khratha 

‹ Discrepancy in Bill of Exchange Dispute B/W Negotiating and Issuing Bank ›
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Thu, 11/19/2009 - 06:55
#1
Raj
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Joined: 08/28/2007
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ADDITIONAL NOTIFY PARTY DETAILS IN BL

answer to all your three questions are YES

Raj Nair

971502194175

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Wed, 11/18/2009 - 02:17
#2
Abrar
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Joined: 03/12/2009
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Notify party

1. ABC Bank is the designated 'to order' consignee, and unless prior arrangement has been agreed between ABC and CDE, the bank may endorse the B/Ls to any party. It does not necessarily require the 'notify party's' consent to do so.

2. ABC Bank must in this case, ensure that it endorses the B/Ls in negotiable form 'to order of' and not simply 'to' CDE. CDE would then be able to endorse 'to' or 'to order of' XYZ.

3. Unless the LC indicates a 'notify party', the relevant box may be left blank, or completed with details of any party. Para. 103 of ISBP refers.

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