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Translation for International Business
The document becomes a negotiable instrument wherein the title to the merchandise goes with possession of the bill of lading.
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We surrendered a clean on board bill of lading for the negotiation of payment.
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You may draw a clean draft on us for the value of this sample shipment.
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The balance of USD 1000 has been drawn at sight on you.
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You can draw on us against this credit.
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Bill of lading should be made out to order and endorsed in blank.
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The customary letter of credit calls for “a full set on board ocean bills of lading to order of shipper, blank endorsed”.
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If blank endorsement is made, the holder of the B/L has the right to take delivery of the goods.
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If special endorsement is made, the assignee has the right to take delivery of the goods.
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When the bank presents the bill to the drawee, he must either pay it immediately or accept it by writing “accepted” on it.
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The most unsatisfactory feature of the D/P form of transaction is the possibility of the buyer or his banker refusing to honor the draft and take up the shipping documents.
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The paying bank sent us a notice of dishonor.
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