Backdating documents under english law


15-Apr-2020 15:51

The b/l is equally important in the trade as so called third party document which the seller of the goods must present to the bank in order to receive payment of the purchase price under a letter of credit.This makes I think the b/l a key document in international shipping and trade, standing on the cross roads of shipping, trade and banking law.Under US law, this does not constitute a fraud, because it is not material enough.?These questions touch upon the function and value of a b/l.In such situations owners may deliver the goods to the wrong person and perhaps be held liable for this theft.This triggered b/ls with so called Maersk clauses in which the carrier excludes liability for delivery of the cargo against a forged b/l.

Just as the Dutch Supreme Court ruled, a third party b/l holder must be able to trust the correctness and be protected if it is not.

There exists case law in the US, saying for establishing fraud, there should be amaterial false representation.

An example once given by a well-known speaker during a seminar on LC law, was a b/l stating to have on board 100 bicycles, whereas the seller/shipper knew the ship carried 99 bicycles.

The questions I just raised (distinguishing severity/types of fraud, protection of the beneficiary) are difficulty to answer though, as these are not be found in any international regulations.

Maritime conventions, conventions on international trade such as the Vienna Convention, but even the UCP 500 (Uniform Customs and Practice for Documentary Credits) are silent on what is considered b/l fraud and what the consequences are for the position of the innocent beneficiary under the LC.

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