ICC Digital Library Forum

Credit calls for 2/3 original b/l's to be presented as well as the master's receipt confirming that 1/3 b/l is sent in captain's mail along with goods.
B/l should be issued to order and endorsed in blank.
Is there any chance that applicant might get the goods without presentation of any of the originals sent throughout the banking system?
Or is such a situation avoided by instructions given to the master(i.e. to deliver goods only if remaining original(s) are presented)?
No experience with master's receipt,therefore need help.
Thanx to tolee for their kind remark.

The whole purpose of such an arrangement is usually to allow the applicant to get the goods prior to receipt of the other documents by the issuing bank. This overcomes the problems that can occur when goods arrive before documents. Of course, the beneficiary faces the risk that if their documents are discrepant they will not get paid but the applicant still have the goods. If the master had to hold the original b/l until the others were presented, this would destroy the entire point of the exercise.