Сargo Сlearance

The Applicant (Buyer) may apply for a Shipping Guarantee (SG) issued in favour of the shipping company. This is to facilitate clearance of cargo from the port and to avoid paying demurrage charges when the vessel is arriving before the receipt of shipping documents called for under LC. This SG will subsequently be redeemed by the Applicant when original BLs are presented under LC. Shipping Guarantees are formal financial obligations or undertakings in favour of third parties, issued by banks on behalf of customers, to facilitate their business dealings.