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Glossar Trade & Export Finance
Glossar (O)
Objection
An objection is a person’s right and the means to prevent a third party from enforcing a claim against it.
TopOcean/Marine bill of lading
See under «Bill of lading».
OECD
Organisation for Economic Co-operation and Development, Paris.
On board
Pre-printed wording on the bill of lading which indicates that the goods have been loaded on board or shipped on a named ship. In the case of received for shipment bills of lading, the following four parties are authorised to add this «on board» notation:
the carrier
the carrier’s agent
the master of the ship
the master’s agent See UCP Art. 19, 20, 21, 22.
On deck
Notation on the bill of lading which indicates that the goods have been loaded on the deck of the ship. Documents with an «on deck» notation will only be accepted if expressly authorised in the credit.
Original documents
Shall be considered in the frame of a documentary credit as original, a document bearing an apparently original signature, mark, stamp, or label of the issuer of the document. See UCP Art. 17.
On their face
Banks must examine documents with reasonable care to ascertain whether or not they appear, on their face, to be in compliance with the terms or conditions of the documentary credit. See under UCP Art. 14.
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