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BILL of lading 3 original meant for one is Reserve bank has to confirm that your shipment went thru proper channel
second one is your bank authendicate that shipments get money to your a/c .
third one is meant for clearing the documents to your buyers from their destination port
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What is the different between surrender bill of lading and original bill of lading?
Original Bill of Lading's (3) any one of the same is submitted by the importer at the time of clearance of good at destination port. Whereas the surrender bill of lading is to surrender/submitted with the load port liner at the time of clearance of goods.
What are the functions of bill of lading?
There are three functions of the Bill of lading:1. The Bill of lading is evidence that the transporter has received the goods.2. The Bill of lading is a device that confirms the maritime transportation contract of goods.3. The Bill of lading is a title deed to the loaded goods.
What is the different between telex release and sea waybill?
TELEX RELEASE Under a telex release, delivery may be effected by the surrender of all three (3) original Bills of Lading by the shipper to the carrier at the port of loading. This must be accompanied by the Shipper's explicit written instructions and authorization to the carrier to allow release of the goods to a named Consignee. Cargo will be released to the party named in the telex release against proper proof of identity. Cargo receivers should acknowledge, by placing their signature on a relevant Letter, that they note and are aware of the terms and conditions of carriage. EXPRESS OR SEA WAY BILLS OF LADING Goods carrier under a Sea Way Bill of Lading are carried pursuant to the carrier's Standard Terms and Conditions. Sea Way Bills of Lading are non-negotiable documents. They are receipts for shipped goods and will be issued by the carrier identifying both the shipper and the person to whom delivery should be made. Cargo will be released to the party named in the Sea Way Bill of Lading as Consignee against proper proof of identity. Cargo receivers should acknowledge, by placing their signature on the relevant Letter of Indemnity for release under Sea Way Bills, that they note and are aware of the terms and conditions of carriage.
Risks in charter party bill of lading?
1. You are unable to check that how many Charter party Bill of Lading has issued by the captain or master 2. You are unable to find out the authenticity of Charter party Bill of Lading. 3. The signature on the Charter Party Bill of Lading cannot be traceable.
What are the different types of bill of lading?
12 Common Types of Bill of Lading Forms & When To Use Them1. Straight Bill of Lading: This is typically used when shipping to a customer. The "Straight Bill of Lading" is for shipping items that have already been paid for. 2. To Order Bill of Lading: Used for shipments when payment is not made in advance. This can be shipping to one of your distributors or a customer on terms.3. Clean Bill of Lading: A Clean Bill of Lading is simply a BOL that the shipping carrier has to sign off on saying that when the packages were loaded they were in good condition. If the packages are damaged or the cargo is marred in some way (rusted metal, stained paper, etc.), they will need issue a "Soiled Bill of Landing" or a "Foul Bill of Landing."4. Inland Bill of Lading: This allows the shipping carrier to ship cargo, by road or rail, across domestic land, but not over seas.5. Ocean Bill of Lading: Ocean Bills of Lading allows the shipper to transport the cargo over seas, nationally or internationally.6. Through Bill of Lading: Through Bills of Lading are a little more complex than most BOLs. It allows for the shipping carrier to pass the cargo through several different modes of transportation and/or several different distribution centers. This Bill of Landing needs to include an Inland Bill of Landing and/or an Ocean Bill of Landing depending on its final destination.7. Multimodal/Combined Transport Bill of Lading: This is a type of Through Bill of Lading that involves a minimum of two different modes of transport, land or ocean. The modes of transportation can be anything from freight boat to air.8. Direct Bill of Lading: Use a Direct Bill of Lading when you know the same vessel that picked up the cargo will deliver it to its final destination.9. Stale Bill of Lading: Occasionally in cases of short-over-seas cargo transportation, the cargo arrives to port before the Bill of Landing. When that happens, the Bill of Landing is then "stale."10. Shipped On Board Bill of Lading: A Shipped On Board Bill of Lading is issued when the cargo arrives at the port in good, expected condition from the shipping carrier and is then loaded onto the cargo ship for transport over seas.11. Received Bill of Lading: It is simply a Bill of Lading stating that the cargo has arrived at the port and is cleared to be loaded on the ship, but has not necessary mean it has been loaded. Used as a temporary BOL when a ship is late and will be replaced by a Shipped On Board Bill of Lading when the ship arrives and the cargo is loaded.12. Claused Bill of Lading: If the cargo is damaged or there are missing quantities, a Claused Bill of Landing is issued.
What are merits and demerits of of different types of bill of lading?
A straight bill of lading is non-negotiable and used for shipments where the consignee is known and the cargo is not to be resold. This can provide more security but less flexibility compared to negotiable bills of lading, which allow for the transfer of ownership during transit and increased financial options. However, negotiable bills of lading can be risky as they can result in cargo being delivered to unauthorized parties if not handled properly.
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