Bill Of Lading

Bill of lading has three basic functions,

01. It is a very good evidence of contract of carriage. It is not contract by itself.
02. It is a receipt for the goods shipped.
03. It is a document of title without which delivery of cargo cannot be obtained.


Types of bills lading:

01. Ocean Bill Of Lading: A contract for carriage of ocean transportation between an ocean carrier and shipper, NVOCC of freight forwarder.

On Board Ocean Bill Of Lading: Ocean B/l- Issued with original and non-negotiable copies accepted by international banks for use in negotiating collections and letters of credit. (L/C)

02. Express Ocean Bill Of Lading: Express B/L- Only non-negotiable copies issued, no originals. This type of bill of lading allows for faster collection of cargo at destination eliminating possible delays or loss transferring originals to consignees or banks for presentation at destination. Not normally accepted by international banks for use on L/Cs or collections as they do not offer any control over the release of the cargo at destination.

03. Intermodal And Combined Transport International Bill of Lading: Combined transport B/L- Used by carriers, NVOCC and freight forwarders assuming the role of the carrier. They can be issued as Express B/Ls (no originals) or ocean B/Ls (accepted by international banks).

04. House Bill Of Lading: House B/L- Used primarily by freight forwarders to cover shipments moving door/door. Terminal/terminal, Port/port or other variations thereof. Not normally accepted by international banks for L/Cs unless provisions are made within the L/C.

05. Received For Shipments Bills Of Lading: Received for shipment B/L- Issued by a carrier, NVOCC or freight forwarder confirming receipt of cargo booked to move but not yet shipped. Normally issued without originals unless specific provisions are contained in a L/C requiring their use in the negotiation of the L/C.