Letter of Credit Forum

The clause says that 'A certificate issued by the shipping company or their authorised agent confirming that goods have been shipped by a classified vessel according to London Institute classification'.

This is complied by way of a certificate issued by the the authorised agents of the shipping company signed as 'For and on behalf of shipping company, XYZ Company as authorized agents'  stamped by the agents as well.

 Its a charter party B/L used and B/L is signed as 'For and on behalf of the Master, ABC company as agents only.'

Now, the negotiating bank came up with a discrepancy stating that 'Shipping Company certificate is issued and signed by an agent different from the one who has signed the B/L.'

We had a very valid argument, staing that the agent who signed the B/L is agents for the master at the load port and the agent who signed the shipping certificate is agent for the shipping company who is based in London and this is precisely drawn as per the requirement for the clause. Master and shipping company are two different entities and their agents can also be completely different and hence no discrepancy. We felt the bank is trying to compare Oranges to Apples and confirm that both are one and the same.

Please comment urgently on this, we would like to highlight this issue to the ICC for a ruling, but as it takes some time, I need some urgent comments from other experienced members of the forum.

 Looking forward,

SUNGEO