ICC Digital Library Forum

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

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.

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

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

Dear Daniel,

Please don’t go there

Best regards
Kim

Jeremy, thank you
Kim, OK

Regards
Daniel

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

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

Thanks, I'll look it up.

Judith