Type of Bill of Lading

 

TYPES OF BILL OF LADING

Oluwamayowa Ibirongbe

Given below are 15 common types of Bill of Lading. It is worthy of note that this list is by no means exhaustive.

1. Clean Bill of Lading:- It is issued by the Shipping Company or by its agents without any declaration on the defective Constitution of the goods/packages taken on Board/stuffed in containers.

2. Received for Shipment Bill of Lading:- It is a document that is issued by a carrier as evidence of receipt of goods for shipment. It is issued prior to the vessel loading and is therefore not an onboard bill of lading.

3. Through Bill of Lading:- It is more complex than most BOLS. The document permits the shipping carrier to pass the cargo through several modes of transportation or through several distribution centers. This bill includes an Inland Bill of Lading and an Ocean Bill of Lading depending on the destination.

4. Claused Bill of Lading:- It is issued when the cargo is damaged or when the quantity goes missing.

5. Container Bill of Lading:- It is a document that gives information about goods that are delivered in a safe container or containers from one port to another.

6. House Bill of Lading:- It is a document generated by an Ocean Transport Intermediary freight forwarder or non-vessel operating company. The document is an acknowledgment of the receipt of goods that are shipped, issued to the suppliers when the cargo is received. This Bill of Lading is also known as Forwarders Bill of Lading.

7. Master Bill of Lading:- This is a document that is created for shipping companies by their carriers as a receipt of transfer. The document specifies the terms that are required for transporting the freight, details of the consignor or the shipper, the consignee and the respective person who possesses the goods.

8. Charter Party Bill of Lading:- This is an agreement between a charterer and a vessel owner. The document is issued by the charterer of the vessel to the shipper for the goods that are shipped on board the vessel.

9. Multi-Modal Transport Document/ Combined Transport Document:- It is a type of Through Bill of Lading that involves a minimum of two different modes of transport, land or ocean. However, the modes of transportation can be anything from freight boat to air.

10. Stale Bill of Lading:- It is presented for negotiation after 21 days from the date of shipment or any other date/number of days stipulated in the documentary credit.

11. Short-term/ Blank Back Bill of Lading:- It is issued when the detailed terms and conditions of the carriage contract are not given on the body of the Bill of Lading or on the back of the Bill of Lading.

12. Straight Bill of Lading:- This indicates that the goods are consigned to a particular person and it is not negotiable free from the existing equities. This means that an endorsee acquires no better rights other than those that are held by the endorser. This bill is also called a non-negotiable bill of lading. However, from a banker’s perspective, this type of lading is not safe.

13. Order Bill of Lading:- It is the bill that expresses words that make the bill negotiable. This explains that the delivery is to be made to the further order of the consignee using terms such as delivery to A Limited or to order or assigns.

14. Bearer Bill of Lading:- It is a bill that states that the delivery shall be made to whosoever holds the bill. These bills are specially created or it is an order bill that does not nominate the consignee in its original form or through an endorsement in blank. A bearer bill can be negotiated by physically delivering it.

15. Surrender Bill of Lading:- Surrender Bill of Lading works under the term ‘import documentary credit’, where the bank releases documents on receipt from the negotiating bank. The importer does not make the payment to the bank until the maturity of the draft under the relative credit.

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