Category: Insurance tips Release Date: 2006-08-01
In the letter of credit have not been clearly defined circumstances, the endorsement of the insurance documents according to "Uniform Customs and Practice for Documentary Credits," International Chamber of Commerce Publication No. 500 (revised 1993) Article 34, insurance documents from its surface, be given by the insurance company or insurer or their agents opened and signed. In international business practice, insurance documents endorsement of what form should be used as a salesman main task is to clear the following questions: 1, endorsement of the form; two different forms of practices and the role of the endorsement; 3, insurance documents endorsed with the maritime endorsement of the difference between the bill of lading and relationships.
The endorsement of the form of documents from the insurance point of view: the endorsement of general insurance, there are two documents: a blank endorsement and blank endorsement.
From the different forms of practice and role of the endorsement to see: a blank endorsement of specific practices in the insurance documents are marked with the back of the insured person's name or stamped with the company seal, together with an endorsement signature. In addition, not to make any comments. If the letter of credit "ENDORSED IN BLANK" or "BLANK ENDORSED" would need to do so. If the letter of credit on the insurance documents provided no clear endorsement, it shall make blank endorsement. Insurance documents作成blank means that the insured person or any other insurance policy holders being entitled to the insurance company after Chuxian the goods or its agents the right to claim and receive reasonable compensation. Anonymous endorsement of specific practices in addition to the back of the insurance documents made the above "blank", the insured person should also be printed on the name above the "DELIVERY TO (THE ORDER OF) × × BANK (Co.,)", ie [ by × × bank (or company) (instructions)].
Blank endorsement must be endorsed bank or company who endorsed most of the division to the Issuing Bank. Blank endorsement in the ordinary course of business less frequently used. Insurance documents made secret endorsement means that the insurance documents of the assignee to the goods insured, after Chuxian access to the insurance company or its agents the right to claim. Insurance documents to the insured person, if not our export companies, but in other countries or regions "× × Co., LTD", our export companies do not endorse. If an insured person required to transfer bills of lading, insurance documents from other countries or regions on the "× × Co., LTD." Endorsement. Must be noted that if the insurance documents of the insured person is the shipper or that China's import and export companies or enterprises, according to various provisions of the letter of credit, and sometimes can be made into a blank endorsement, and sometimes can be made into blank endorsement.
Documents from the insurance endorsement and the endorsement of Bill of Lading to see the differences and relationships: In the CIF transaction price conditions, the endorsement of the bill of lading related to the attribution of ownership of the goods, while the endorsement of the insurance documents related to the insured goods, the insurance company and after Chuxian agents the right to claim rights and reasonable compensation. Therefore, the goods only after the Chuxian master bill of lading also mastered the case of insurance documents, real grasp of the right goods.
In general, insurance documents of the endorsement should be consistent with the endorsement of the bill of lading, insurance documents through the endorsement of the scope of the transfer should be equal to or greater than the transfer of the scope of the bill of lading. If the bill of lading made blank endorsement, insurance documents the contents of the division to do the same endorsement, but also can be made into a blank endorsement, also made blank if the bill of lading, insurance documents should also be made into a blank endorsement. In the FOB and CFR prices under the conditions of the transaction, the buyer's insurance, such as the buyer's need for transfer of bills of lading, insurance documents also need to transfer, the transfer of the two mentioned above must be consistent in the insured goods, Chuxian, the policy holder to the insurance policy by virtue corporate claims and to provide reasonable compensation.
