As we know, a Bill of Lading (B/L) is one of the most commonly used commercial documents in the history of global trade and shipping.. This document is issued in one form or the other for all shipments whether it is container, bulk, break bulk, RoRo or others..
A Bill of Lading has 3 basic functions or roles as below (in no particular order)..
1) Evidence of Contract of Carriage
The B/L is the EVIDENCE of the contract of carriage entered into between the “Carrier” and the “Customer” in order to carry out the transportation of the cargo (not to be confused with the sales contract...
Some good seems to have come out of the COVID-19 pandemic after all.. Global trade has reached record levels, ocean carriers have gained record financial muscle and the world became aware of supply chain and its vulnerabilities..
COVID-19 really pushed the digital agenda in supply chain and one of the main challenges that people faced during COVID-19 lockdowns and continue to face in countries that still have COVID-19 lockdowns is the handling of Original Bills of Lading..
To jog your memory, a Bill of Lading is one of the most important commercial documents in supply chain fulfilling 3 functions when issued...
London, Hong Kong, Singapore & Tokyo, 29 March 2022 – Bolero International, the leading provider of cloud-based trade finance digitisation solutions, announced today a collaboration with TradeLens, the blockchain-based global trade platform for containerized goods, with the goal of delivering a seamless digital experience for customers using electronic bills of lading in trade finance transactions.
The COVID-19 pandemic has underscored the importance and fragility of global supply chains and how disruptions have costly impacts on interconnected global economies. This has fueled demand for a wide range of digital solutions, including the use of electronic bills of lading, a key shipping document facilitating the transfer of title of the goods....
There have been several questions about the “liability of a shipper on a bill of lading”.. As we have discussed, any one can be a shipper on the bill of lading and may not necessarily be the actual exporter or seller of the goods that are covered in the bill of lading..
It is not uncommon for a Seller to be pursued by the Carrier for unpaid charges incurred in relation to the cargo, say, due to the Consignee failing to come forth and take delivery.
More often, this comes as a shock to the Seller given that they may have received payment under their contract for sale of goods and subsequently transferred the negotiable Bill of Lading by endorsement (either to a named party or in blank).
The Seller generally presumes that they do not bear any liability and instead believe that the Carrier only has a right to pursue the Consignee.
The below article by Muthu Jagannath explains the liability of the entity who is listed as a Shipper in the Bill of Lading (“BL”)..
A Bill of Lading (B/L) is one of the most commonly used commercial documents in the history of shipping and freight.. This document is issued in one form or the other for all shipments whether container, bulk, break bulk, RoRo or in other forms of carriage..
A Bill of Lading has 3 basic functions.. But which is the most important function of the bill of lading..??
In cases where an original bill of lading is lost, there are several steps that need to be taken to carry on business and secure release without an original.. I previously wrote about What to do when an Original Bill of lading is lost so I am not discussing it again here..
One of the solutions for release without original bill of lading is a Bank Guarantee..
MSC Mediterranean Shipping Company, a global leader in container shipping and logistics, is officially introducing the electronic bill of lading (eBL) for its customers around the world, following a successful pilot phase, using a solution on an independent blockchain platform WAVE BL.
Shipping and Freight Resource by Hariesh Manaadiar has been providing quality content to the industry since 2008, helping readers understand more about this industry and the business of Shipping, Freight, Maritime, Logistics, Supply Chain and Trade, allowing them to make better business decisions