Do banks verify whether the cargo has actually been loaded on a ship..??

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Shippers who deal with documentary credit know that the clause “Shipped on Board” on the bill of lading carries quite a bit of weight and there is often a lot of discussions, disputes and rejections from the side of the bank if there is any discrepancy in bill of lading in terms of the description of goods, customer details, shipped on board date, stamp or signature..

Since they are being so strict with documentation, one would naturally assume that the banks will verify whether the cargo covered in the bill of lading has actually been loaded on board the ship or not..

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Shipped on Board Date stamp – should it be signed..??

Shipped on board stamp
A shipped on board date is an important date on a bill of lading, especially where a Letter of Credit is involved..

Should the Shipped on Board stamp be signed and the implications whether it is signed or not..

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Difference between Received for Shipment, Shipped on Board, Clean on Board & Clean Shipped on Board

Bills of lading generally bear the clauses Received for Shipment, Shipped on board and Clean on board..

In this article, you can read about the difference between these three clauses..

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Clean on board or Shipped on Board – what should a bill of lading show..??

Clean on Board and Shipped on Board are two different clauses in a Bill of Lading and these two have sometimes led to confusion and disagreements within the trade..

Here we will examine what the bill of lading should show – Clean on Board or Shipped on Board..??

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