Monday, December 5, 2022

Bill of Lading

Global trade has been around for centuries and since the introduction of paper some 2000 years ago, paper has been widely used in global trade documentation and continues to do so. Although paper trade documents have...
Global trade involves several processes with up to 20+ documents being interchanged for a single shipment between various stakeholders in the chain. For years, global trade documentation has been characterized by physical documents that were issued, released,...

UK is a few steps away from legislating electronic trade document transfer

World merchandise trade was valued at USD28.5 trillion in 2021 and as per the latest figures from the Department of International Trade, international trade...

Is a bill of lading by any other name still a bill of lading..??

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.....

Electronic Bill of Lading – Are you and your country ready for it..?? Part 3

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...

Bolero and TradeLens join forces to accelerate electronic bill of lading adoption across the global shipping industry

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...

How many original bills of lading must I surrender to get release of cargo..??

How many original bills of lading must I surrender to get release of cargo..?? This question popped up on my comments and emails quite a few times since the beginning of this year and therefore I decided to write this short note to answer it..

Liability of the shipper on the bill of lading

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”)..

Letter of Credit requires IMO Number to be shown on Bill of Lading

A case study on the obligations of a shipping line in terms of clauses/notations to be mentioned in a bill of lading.. Based on a real life question from a reader..

Checking of Bill of Lading against Customs documents

Why does a shipping line or agent check or have to check a Bill of Lading against customs documents.. What are they checking for and what should they be checking for..??

Which is the most important function of a bill of lading and why..??

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..??

What are the main causes of Demurrage and Detention

In one my previous articles, I explained the Difference between Demurrage and Detention..

After reading this, a few of my readers have asked me to explain the causes of demurrage and detention..

There are several reasons a container(s) can incur demurrage and/or detention or combined demurrage and detention.. Here are some of the major reasons..

What is a Delivery Order and who issues it..??

If you are in the shipping and freight industry, you would have no doubt heard about a Delivery Order.. This article explains in detail all about a Delivery Order - what is it, who issues it, who should it be issued to and its importance..

When can a bank guarantee against a lost bill of lading be cancelled..??

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..

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

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..

Is a Delivery Order a legal document..??

By definition, "A Delivery Order is a release document issued by the carrier releasing the cargo to the consignee mentioned in the bill of...

How to safeguard cargo release using the correct type of bill of lading

An article on how to safeguard cargo release using the correct type of bill of lading.. This article is based on a case study information received from one of the readers..

Executive Insights – Philip Teoh – Lawyer and Maritime Arbitrator

Executive Insights is a series by Shipping and Freight Resource that provides insights and thoughtful analysis about the industry..

This series features selected individuals from the industry and is aimed at enriching the knowledge of the readers with what is happening in the shipping, freight, maritime, logistics, and supply chain industry..

Executive Insights also gives you a chance to pick the brains of these industry veterans, leaders, and enablers..

In this edition of Executive Insights, we caught up with Philip Teoh - Lawyer and Maritime Arbitrator, on aspects of International Convention of Carriages and other maritime matters..

Can a negotiable bill of lading be telex released..??

Maybe because it is one of the most important documents in global trade, there always seems to be a degree of uncertainty around a bill of lading and questions such as this..

Many people have doubts regarding which bill of lading to issue, how many to issue..

There are also questions such as what is a Telex Release, how it works and under what circumstances a Telex Release maybe issued..

In this particular post, I will cover the circumstances under which a Telex Release maybe issued and whether a telex release can be actioned on a negotiable bill of lading..

Help, shipping line won’t pre-date or back date my bill of lading

Pre-Dating or Back Dating is when the shipper requests the shipping line to show the Shipped on Board date on the bill of lading as a date before the actual sailing of the vessel (example : the vessel actually sails on the 2nd of March but shipper wants the line to show the shipped on board date on the bill of lading as 28th of February)..

Why would a shipper want his bill of lading to be pre-dated or back dated and why would a shipping line reject this request..??

Letter of Indemnity – Dos and Don’ts

Many of you might have heard the term Letter of Indemnity (LOI) in day to day shipping practice..

There have been several arguments, discussions, commercial threats, litigation etc surrounding this LOI..

But many still have doubts on what an LOI is, when it can and should be used, whether it is legally enforceable and whether it is worth the paper it is written on..

I will try to answer these questions in this article..

Implications of issuing a Clean on Board bill of lading

Many a time, shippers have asked shipping lines for "CLEAN ON BOARD" clause on a bill of lading and if the request relates to a container shipment, this might have very well been rejected by the shipping line..

Why do the shipping lines reject this..?? 

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