Multimodal / Combined Bill of Lading in Letters of Credit Transactions

Multimodal / Combined Bill of Lading in Letters of Credit Transactions

Letter of credit is a payment method based on documents only. Transport documents are very important in letter of credit transactions. Multimodal / Combined Bill of Lading have special rules in UCP 600 latest letter of credit rules.

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What is Multimodal Bill of Lading ?

A multimodal transport document (MT document) means a document evidencing a multimodal transport contract and which can be replaced by electronic data interchange messages insofar as permitted by applicable law and be,

(a) issued in a negotiable form or,
(b) issued in a non-negotiable form indicating a named consignee.
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