8 points to consider before you sign a bill of lading

points to consider before you sign a bill of lading

To the casual onlooker, signing a bill of lading may be a routine, day to day mundane job done by many people across the world.. But the fact is that there are several technicalities to be considered before signing a bill of lading..

It is important to understand that the person signing the bill of lading acknowledges the details recorded on the bill of lading.. Any bill of lading signed with the knowledge of misrepresented facts may be considered to be a fraudulent document and may result in legal consequences for the signatory..

If you are a bill of lading signatory, here are 8 points that you need to consider before signing a bill of lading.. It may be a bit of a long read, but worth it.. 🙂

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Containers lost at sea..!!!! Why it happens and what to do when it happens..

containers lost at sea

As part of global trade, in 2016, approximately 130 million containers packed with cargo with an estimated value of more than $4 trillion were shipped around the world..

As per the University College London’s Energy Institute and data visualisation firm Kiln more than 50,000 merchant ships travel high seas, moving goods and commodities all over the place..

With so many containers on the move in many different routes, there are bound to be some containers lost at sea..

We examine the causes, what may prevent it and what to do when your container actually is lost at sea..

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Will you please pack your container properly..!!

pack your container properly

Will you please pack your container properly..!!

I can hear this cry loud and clear from many Insurance companies, P&I Clubs, Transporters, Importers and Shipping Lines and all within good reason too..

There are innumerable cases of damage to cargo, containers, personnel, lifting equipment and ships due to improper packing of cargo into containers..

Cargo damage can take many forms such as Physical, Wet, Contamination, Temperature related etc..

As per UK P&I Club, 25% of the cargo claims that they receive is due to physical damage.. Read on to understand more..

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Impact of insurance on Express Bill of Lading

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Insurance is a very important item in any business transaction.. Shipping is no different..

Will there be any impact on the insurance cover taken if the bill of lading issued for the shipment is an Express Bill of Lading..??

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Liability of the freight forwarder on Abandoned Cargo

abandoned container

If a cargo has been abandoned at the destination, is the freight forwarder that booked the cargo responsible or liable to the shipping line..??

Let’s see the answer to this important question..

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Seaworthiness of Containers

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Sharing another useful article from NAU Pte Ltd (“NAU”), a claims correspondent/consultancy firm based at Singapore dealing with Transport Liability, P&I and H&M Claims, about Seaworthiness of Containers..

Hope this article will give you an insight into the importance of maintaining the seaworthiness of containers..

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A Chinese company has defrauded me.. Who can help me..??

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A Chinese company has defrauded me.. Who can help me..??

Seems to be a very popular question/issue within the international trading arena.. Is there a solution or recourse to the buyer..??

It would be interesting to see how many other readers have had such experiences and if anyone has been successful in getting back any of the monies from the people that defrauded you..??

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Incoterms, transfer of risk and title to sue

Incoterms, the transfer of risk and the title to sue are some of the issues that are discussed at length and detail across many platforms.. There is however a great deal of misunderstanding and miscommunication about this subject.. The latest TT Talk article from the TT Club discusses this issue in detail..

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Responsibility of buyer and seller in the case of cargo damage

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At some stage of shipping, many buyers and sellers have gone through this question.. There has been cargo damage – who should be held responsible.. Who was supposed to check what..??

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Can an insurance company assist a freight forwarder in case of lost bill of lading..??

If an Original Master Bill of Lading is lost by a Freight Forwarder, will his insurance company provide cover or assistance in securing a bank guarantee..??

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