steamship guarantee

Definition of "steamship guarantee"
  1. An assurance given by a bank to a carrier to cover possible loss or damage when goods are released to a receiver, generally given when the bill of lading is unavailable or lost
How to use "steamship guarantee" in a sentence
  1. The freight company requested a steamship guarantee before releasing the merchandise.
  2. The bank issued a steamship guarantee as the bill of lading was lost.
  3. Cargo was held until the carrier received a steamship guarantee from the bank.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z