Blank endorsement

[jsheehan]

An LC requires full set of original charter party Bs/L issued to order of the shipper, blank endorsed. The shipper ommitted to blank endorse and the benef of the LC blank endorsed the Bs/L on behalf of the shipper. Based on point 123 of the ISBP we feel the endorsement is acceptable under the LC and no authorization from the shipper is required.
Would appreciate any comments.

Thanks

[DanielD]

In my opinion par. 123 does not allow to endorse B/L without authorization as it is the case here.
It happens that the relevant entity forgets to endorse. In that case we ask their authorization to do it and we specify when we endorse on their behalf: "as per valid power of attorney in our possession".
Daniel
Danielbapply

[NigelHolt]

Simply as a general principle, if something is stated to be signed for and/or on behalf of another party (or as agent, proxy etc of that party), that other party being in law the 'principal', it must be considered as having been executed by the principal and not the agent for the purpose of facial compliance. Thus, the fact that it is the beneficiary that has apparently acted as agent here is immaterial; what matters is if on its face the endorsement has been signed by the principal's (the shipper in this case) agent. As a result, assuming this is the case, I have no doubt the endorsement is compliant.




[edited 12/16/2011 9:40:51 AM]
[edited 12/16/2011 9:41:49 AM]

[jsheehan]

Thanks for the input