Views: 670 Author: VV Publish Time: 2016-08-11 Origin: Rech Chemical Co. LTD
Rech Chemical Co. Ltd trade zinc sulfate monohydrate with a lot of customers from all over the world. Many customers choose L/C item to pay the cargoes, however, different content of consignee would express different meanings.
Case 1: If the Consignee's column in L/C is written as "to the order of * * * bank" (the importer bank), it means the importer bank could transfer the ownership of the bill to specific one as the first endorser. Thus, if the column“ to the order of ”indicate the endorser, the order of consignor, consignee or importer bank will transfer the ownership of the bill to the specific one as the first endorser.
Case 2: If the Consignee' s column in L/C is written as the Consignee's detailed address, it shows that the goods only can be delivered to the specific consignee. This situation not only shows the bill of lading has lost the right to transfer the goods to other place, but also it avoids the risk in transfer process.
Situation 3: If the Consignee's column in L/C is written as "to order", such B/L is also called a bearer bill of lading with blank endorse. As the first endorser, the shipper has the right to transfer the ownership to others.
The information about consignee in L/C above is just for ones who work in zinc sulfate monohydrate trading business and export. Hopes it is helpful for you in specific foreign trade operations.