Forwarder's Cargo Receipt acceptance permitted in lieu of bill of lading when letter of credit allows negotiation. Authorized dealers may accept Forwarder's Cargo Receipts (FCR) issued by approved freight agents in lieu of bills of lading for negotiation or collection under letters of credit if the letter of credit expressly permits such negotiation; previously the sale contract also had to permit FCRs. For non LC exports, banks may accept FCRs in lieu of bills of lading for purchase/discount/collection only where the sale contract permits it, and such acceptance is a discretionary credit decision requiring satisfactory verification of transaction bona fides and party track records.