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As a banker how shipping guarantee can be made safe?

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Question added by Faisal Shahzad , Branch Operation Manager , Al Baraka Bank (Pakistan) Limited
Date Posted: 2014/04/03
Md. Mohin Uddin
by Md. Mohin Uddin , Principal Officer , AB Bank Ltd.

If your question is, How can a bank issues a shipping guarantee safely? Answer: A bank can issues a SG against a indemnity/ legal undertaking/ Promissory note/ Trust Receipt or any established arrangement with client wherein client undertakes to reimburse the bank any cost, expense,charge which may arise from misconduct, legal obligations or performance.

Rehab Mohamed
by Rehab Mohamed , Import & export , Bernasos Stationery

Iam not sure about your question , but if you asking about how banks can guarantee shipping , it should be have original of BL under bank name , this mean that bank own the goods and should ask consignee to issue insurance policy to cover goods value + ocean freight + %10 

 

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