Status of IB

DanielD · Post by **DanielD** » Thu Jun 05, 2008 1:00 am

When an IB requires in a DC that the transport document be issued to its order or show it as the consignee, is the IB still a neutral party in the DC?
Daniel

NigelHolt · Post by **NigelHolt** » Thu Jun 05, 2008 1:00 am

Don't get where you're coming from Daniel or why it matters as the issuing bank's obligations will be unaffected, i.e. to honour a complying presentation or refuse a non-complying presentation per UCP.

DanielD · Post by **DanielD** » Fri Jun 06, 2008 1:00 am

Jeremy,

I was wondering if the IB was involved in the commercial transaction in that case and if article 5 was excluded or not and if so, what would be the consequences if any.

Daniel

NigelHolt · Post by **NigelHolt** » Fri Jun 06, 2008 1:00 am

Daniel,

I do not see any reason for thinking that Art 5 would be affected by the goods being consigned to the IB. For the purpose of the DC - as opposed to any other - the IB does deal with documents and not with goods.

Regards, Jeremy

KimChristensen · Post by **KimChristensen** » Fri Jun 06, 2008 1:00 am

Dear Daniel,

Please don’t go there

Best regards
Kim

DanielD · Post by **DanielD** » Fri Jun 06, 2008 1:00 am

Jeremy, thank you
Kim, OK

Regards
Daniel

JudithAutié · Post by **JudithAutié** » Sun Jun 08, 2008 1:00 am

Along the same lines, I have always wondered what exactly were the IB's responsibilities if a cargo under a transport document in the name of the IB were to cause any damage (for example an oil or harmful chemical spillage).
In the one such occurrence I saw, the B/L was endorsed to the order of IB, and not in it's name as such, and I rather think the IB endorsed the B/L quickly to the applicant.
Any jurisprudence on that?
Regards
Judith

DanielD · Post by **DanielD** » Mon Jun 09, 2008 1:00 am

Judith,

Maybe "Borealis v Stargas Ltd and Another", The Berge Sisar". Liability limited "to holders of bills of lading who took steps to enforce rights under the contract of carriage".

Daniel

JudithAutié · Post by **JudithAutié** » Tue Jun 10, 2008 1:00 am

Thanks, I'll look it up.

Judith