It is a document issued by the shipping company or its agent acknowledging the goods mentioned therein on board the carrying vessel in apparent good order and condition unless otherwise indicated therein, for shipment to the consignee on terms and conditions as agrees upon as to the consignee on terms and conditions as agreed upon as to their carriage. This is a ‘shipped’ bill of lading unlike the ‘received for shipment’ one whish does not admit whether the goods have been put on board the ship. The usual details as contained in a B/L are the shipper, name of carrying vessel, name of consignee, names of the ports of shipments and destination, number, identification mark, contents and weight of packages, amount of freight indicating paid or not.
From the importer’s point of view the bill of lading should be a ‘clean’ on board ‘through’ one and not ‘stale’ dated prior to the issuance of the credit. Its contents need be free from any ambiguity and must precisely conform to the terms of the relative credit. A ‘received for shipment’ B/L may be exchanged with a ‘shipped’ one by the necessary modifications under proper authentication but such a B/L may not be accepted unless specifically provided for in the credit.
It is a document of title to goods entitling the holder to receive the goods as beneficiary or endorsee and it is with the help of its document on receipt from the exporter that the importer takes possession of the goods from the carrying vessel at the port of destination.
Clean bill of lading, Through bill of lading, Stale of lading, Short form of lading, Charter party bill of lading and related Mate’s receipt, Invoice etc will be discussed soon in next post.
From the importer’s point of view the bill of lading should be a ‘clean’ on board ‘through’ one and not ‘stale’ dated prior to the issuance of the credit. Its contents need be free from any ambiguity and must precisely conform to the terms of the relative credit. A ‘received for shipment’ B/L may be exchanged with a ‘shipped’ one by the necessary modifications under proper authentication but such a B/L may not be accepted unless specifically provided for in the credit.
It is a document of title to goods entitling the holder to receive the goods as beneficiary or endorsee and it is with the help of its document on receipt from the exporter that the importer takes possession of the goods from the carrying vessel at the port of destination.
Clean bill of lading, Through bill of lading, Stale of lading, Short form of lading, Charter party bill of lading and related Mate’s receipt, Invoice etc will be discussed soon in next post.
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