Who is lc dating

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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.

Urban Dictionary LC

Backdating of a b/l may seem very harmless, yet in trade a difference of one day can make a b difference as prices may go up and down heavily on a daily basis.

Urban Dictionary LC

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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.

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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?

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