Urgent !
Dear all,
I would appreciate your opinions about the following case:
The issuing bank issued LC with requirement of 3/3 original charter party BL made out to order of shipper, blank endorsement.
Documents under that LC are refused with several discrepancies and still kept at Issuing bank's counter.
However, the shipping lines released the goods to the applicant against the presentation of the shipper's LOI, iwithout presentation of original BL.
Does the shipping line violate marine laws when they release the goods to the importer without original BL?
How can the issuing bank control the ownership of the goods in this case?
Many thanks for your promt reply
Ms Tuyet