Why banks do not like FBL and CPBL?

FBL is the short form of Freight Forwarder Bill of Lading or Forwarder's Bill of Lading and CPBL is the short form of Charter Party Bill of Lading.

Banks, especially in letter of credit transactions, do not accept presentation of a FBL instead of a marine bill of lading, unless FBL is signed by the freight forwarder "as carrier" or "as agent on behalf of the carrier"or else presentation of FBL expressly permitted in the letter of credit.

Likewise a CPBL can only be acceptable if letter of credit requests presentation of a Charter Party Bill of Lading.

Today I would like to explain why banks do not accept CPBL or FBL instead of bill of lading.

Who can sign a charter party bill of lading as per UCP 600?

Letter of credit rules give special attention to transport documents.

If you read the latest version of letter of credit rules, UCP 600, you will realize that all transport documents have been specified in very detail.

UCP 600 rules define by whom each transport document must be signed in order be acceptable under letter of credit transactions.

For example UCP 600 article 20 states that a bill of lading, however named, must appear to indicate the name of the carrier and be signed by the carrier or a named agent for or on behalf of the carrier, or the master or a named agent for or on behalf of the master.


Today I would like to explain by whom a charter party bill of lading should be signed as per UCP 600?