Should the Shipped on Board stamp be signed and the implications whether it is signed or not..
Do banks verify if cargo is actually loaded on a ship..??
Shippers who deal with documentary credit know that the term Shipped on Board carries quite a bit of weight and there is often a lot of discussions, disputes, rejections etc from the side of the bank if there is any discrepancy in the shipped on board clause or date or stamp or signature..
So one would naturally assume that the banks verify if the cargo covered in the bill of lading is actually loaded on board the ship or not..
Is there a difference between Laden on Board and Shipped on Board notations on a bill of lading or do they mean the same..??
Sailing Date vs Shipped on Board Date – what should a bill of lading show..??
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..
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..??