Document background
The Bank Guarantee For Lost Bill of Lading is essential in situations where the original bill of lading, a crucial document of title in maritime trade, has been lost or misplaced. Under German law, this guarantee enables the release of cargo without presenting the original bill of lading, while protecting the carrier against potential claims from third parties who might later present the original document. The guarantee is typically issued by a bank on behalf of the cargo receiver/consignee, incorporating requirements from German banking regulations and maritime law. It includes specific details about the shipment, the lost document, indemnification terms, and claim procedures. The document is particularly crucial in international trade as it helps prevent delays in cargo delivery while maintaining the legal security of all parties involved.
