Shipping Guarantees Clause Samples
A Shipping Guarantees clause outlines the obligations and assurances provided by one party, typically a bank or insurer, to cover the release of goods by a carrier when original shipping documents are not available. In practice, this clause enables the consignee to obtain possession of goods from the shipping company before the arrival of the original bill of lading, often by providing a written guarantee or indemnity. Its core function is to facilitate the timely delivery of goods and prevent delays in supply chains, while also allocating the risk of loss or misdelivery between the parties involved.
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Shipping Guarantees. If the Bank shall, at the request of the Customer, countersign any letter of indemnity or letter of guarantee to shipping companies or forwarding agents for taking delivery of Goods (to which the Customer claims to be entitled) without production of the relevant bill(s) of lading or other document(s) of title or otherwise, the Customer hereby agrees that the following terms shall apply in respect of each such letter:
(a) the Bank is authorised to honour by acceptance and/or by payment any draft drawn under the relevant Documentary Credit and/or Documents, notwithstanding the absence of required accompanying documents or any defects or discrepancies in the accompanying documents and even if such Goods or any part thereof are unacceptable to the Customer for any reasons whatsoever;
(b) the Customer shall pay the Bank a commission at such rate as the Bank may from time to time prescribe during the existence of such letter;
(c) the Customer shall remain liable to the Bank hereunder until the Bank has been fully, absolutely and unconditionally released and discharged from all its obligations under any such letter;
(d) the Bank may from time to time, without making prior demand, debit to the Customer's account(s) with the Bank all sums which may be paid by it or any of its correspondents or agents under or in connection with such letter; and
(e) the Customer undertakes to deposit with the Bank immediately on demand any amount for which the Bank may become liable to pay from time to time under or in connection with such letter.
Shipping Guarantees. 若銀行應客戶要求，副署或簽發保證函包括在末向船運公司、運輸公司或運送代理人提示提單或所有權文件之情形下，則客戶保證： If the Bank, at the request of the Customer, countersigns or issues letters of guarantee or indemnity covering the release of goods without production to shipping companies, carriers or forwarding agents of the relevant bills of lading, or other transport or title documents, the Customer undertakes that:
Shipping Guarantees. 10.1 If the Bank, at the request of the Customer, countersigns or issues letters of guarantee or indemnity covering the release of goods without production to the shipping companies, carriers or forwarding agents of the relevant bills of lading or other transport or title documents, the Customer undertakes that:
(a) it will use its best endeavours to obtain the relevant bills of lading, transport or title document;
(b) upon receipt of the bills of lading, transport or title documents, the Customer shall deliver them to the Bank and procure the release of the Bank from any shipping guarantee or indemnity given and the return of the relevant shipping guarantee or indemnity to the Bank for cancellation;
(c) it will waive all discrepancies that may appear in the import documents and accept all such documents presented under the relevant documentary credit; and
(d) it will, on demand by the Bank, deposit with the Bank such sum of money or security equal to the Bank's obligations in respect of the shipping guarantees or indemnities given by the Bank until they are released and returned to the Bank.
10.2 The Customer authorises the Bank to honour any relevant drawings without examining the presented Documents and to endorse and countersign in the Customer's name or otherwise all relevant bills of lading, title documents, transport documents, insurance documents or any negotiable instruments as the Bank thinks appropriate.
Shipping Guarantees. Issuance Fee: (Flat $100) Payable: At the time each shipping guarantee is issued.