BILL OF LADING TYPES
The transport document (B/L or bill of lading) Serves as :
- Confirmation that the consignment was taken over by the consignor.
- Confirmation of the freight contract.
- Negotiable security (document of title to goods).
Bill of lading conditions
The conditions of the carrier that issues the bill of lading are noted on one side of this document. Information on the shipper, consignee, goods description, etc. is entered on the other side. Banks usually require a ‘shipped on board’ bill of lading in the credit note.
A bill of lading must contain the following information
|Name of consignor|
|Name of the shipper (can also be forwarder|
|Name of the ship|
|Name of the recipient (or to order)|
|Prepaid or Collect|
|Place and day of issue|
|Number of issued originals|
Port-Port Bill of Lading
From port of loading to port of discharge.
Multimodal Combined Transport Bill of Lading
From the specified place of loading (place of receipt) to the specified destination (place of delivery.
A Multimodal Combined Transport Bill of Lding, which is usually issued by forwarders.
A party that endorses a transferable security, thereby transferring the rights accruing fro the security to another party.
As with other bill transactions, endorsement of the bill of lading is required to transfer the B/L rights to another party or to effect the claim of delivery with respect to the carrier. A further endorsement must be performed by the recipient to allow the consignment to be delivered by the carrier.