ICC Digital Library Forum

L/C requires Insurance Policies in duplicate... blank endorsed.
Do you require the 'duplicate' insurance policy to be endorsed?

What if L/C requires Insurance Policy in 1 original and 2 copies? Does the copies need to be endorsed as well?

According to UCP, duplicate means one original an one copy.

Without liability/responsibility & in a personal capacity:

I agree that per sub-Art 20bii the requirement for a document <<in duplicate>> <<will be satisfied by the presentation of one original and the remaining number in copies>>. However, this is rightly subject to the <<except[ion] where the document itself indicates otherwise>>. Based on this, if:
A. the <<insurance policy in duplicate>> requirement has been met by the presentation of two originals and,
B. per sub-Article 34b, <<the insurance document indicates that it has been issued in>> two originals,
both originals must be endorsed.
However, if this criteria does not apply, the UCP requires only the/one (as appropriate) original to be endorsed. The same principles would apply to <<Insurance Policy in 1 original and 2 copies>>.

Please note I have assumed the credit specifies that the insurance document is presented in negotiable form and that the insurance document presented is not issued as a ‘bearer’ document.


[edited 7/16/2004 10:00:23 AM]

Jeremy I would like to appreciate your valuable posts on this discussion forum which are very beneficial to the documentary credit practitioners, however I would like to correct that the Article you are referring in this post is SubArticle 20cii rather than SubArticle 20bii.

Based on the information provided In my view the requirement of duplicate will be satisfied by presentation of one original and one copy (SubArticle20cii) and the copy of insurance policy doesn’t required to be endorsed. If the insurance document is issued in two originals both of the documents need to be endorsed.

Referring to the second part of the query, only the original needs to be endorsed if the policy issued in 1 original and 2 copies.

Umar

Umar, thanks for the correction.

If LC stipulates the insurance policy/certificate to be blank endorsed, while docs presented "TO ORDER OF BEARER". Do you think the insurance needed to be endorsed by the beneficiary?