Unfortunately we have now introduced a clause in our LCs that does not allow for B/Ls that on their face state that goods may be released without presentation of an original. This makes the "new" Maersk version discrepant. Detest adding clauses like this but Applicants agree and we can &qu...

I now realise how to post to the correct area. I get frustrated by what we in the U.K. call High Street Banks by their inability to carry out Collection instructions. Firstly re charges, expenses and commissions. We find that very often they will deduct say GBP20.00 despite the fact that it is state...

One of our Customers has been advised by Maersk Sealand Indonesia that B/Ls with the offending clause will not be used for their (our Customers') shipments. Could this be because the Customer had advised Maersk that they will not ship through them? Also, Customer has recently instructed in LCs not t...

I believe this all started because in a certain country, for years they were releasing goods without surrender of an original B/L. Then they got sued!
IMB will mention the matter, hopefully in their next bulletin.
In the meantime I have stirred up dozens of Importers who will complain to Agents etc.

I am going to suggest to our Customers that they import by going personally to the loading port and fill their pockets with the goods. That way we would not need to rely on a document of title just key man insurance. Actually, what we have done is to point out the situation to Customers who will put...

We have asked for a legal opinion and will report later what we are advised. In the meantime, where we look to the goods as security, I don't see any other option but to load LCs with a get out clause if such B/Ls are presented. I hate these clauses but it will have to be something like "if Mae...

We issued LC expiring at counters of a Bank abroad on June 30th. Documents were sent to us by courier and received on July 30th. The Negotiating Bank letter attached to the documents was dated (a coincidence of course) June 30th. The courier waybill was dated July 28th. Oh, one more sad item. The Bl...