Backdating documents under english law which dating site is the best
The shipper of the goods, also the beneficiary under the LC, need not necessarily be aware of this.Should the beneficiary be protected as in the American Accord case?Under English law, such fraude proof b/ls seem to have been accepted by the courts, in which the English House of Lords held that the deliberately wrong dating of a b/l by the loading broker of the carrier is no reason to release the issuing bank from paying out under the letter of credit.
Particularly I would say in cases where it has come to the surface that possible deficiencies of the cargo or its packing were covered up by a clean b/l and LOI.
Anyhow, this aspect apparently did not play a role and the bank was ordered to pay out under the letter of credit to the beneficiary who had no knowledge of this fraud.
The fraud therefore had no consequence for the position of the beneficiary under the LC. What in case a master had put remarks into his mates receipt as to the condition of the cargo but nevertheless issued a clean b/l in exchange for a Letter of Indemnity (LOI) given by the charterer?
Perhaps due to its crucial function, the b/l has still not found its place in a paperless world.
A Korean seller of folding ladders had bribed the carriers local agent in Korea, who issued bills of lading stating to have loaded on board 44 containers with folding ladders. The Supreme court attributed this fraud in the bill of lading to the carrier, such in light of the overriding principle in maritime law and in the interest of international trade, a third party bill of lading holder must be able to trust the correctness of it and be protected if it is not.