A Shipping Guarantee enables the customer to take delivery of the goods before the receipt of the bill of lading. It is an indemnity that the bank executes jointly and severally with its customers in favour of the shipping company. For shipment by air, the bank would be asked to endorse the airway bill to the order of the customer to take the goods. A Shipping Guarantee or airway bill endorsement is issued against this facility made available to the customer.
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