What Is an Ocean Bill of Lading?

The bill of lading, referred to as the bill of lading, is a written document issued by the ship's party or its agent, proving that the goods have been received, allowing the goods to be delivered to the destination, and delivered to the shipper. It is the proof of contract between the carrier and the shipper, which has the effect of a certificate of title in law. ^[1]

Bill of Lading

The bill of lading, referred to as the bill of lading, is a written document issued by the ship's party or its agent, proving that the goods have been received, allowing the goods to be delivered to the destination, and delivered to the shipper. It is the proof of contract between the carrier and the shipper, which has the effect of a certificate of title in law. ^[1]

The clauses printed on the back of the bill of lading stipulate the rights, obligations and waiver of liability between the carrier and the cargo party, and are the main legal basis for the parties when handling disputes. In full form (LONG TERM)

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As a bill of lading, the bill of lading can be transferred as long as certain conditions are met. There are two ways to transfer:

In most cases, the bill of lading is a certificate of title (in some transactions, problems may also occur due to special circumstances). After the seller (the shipper) delivers the goods to the carrier (the ship), the carrier issues a set of bills of lading to the seller.

A set of bills of lading may have more than one original, and often there are 1-3 originals. Any original can be used as proof of delivery. The buyer should therefore ask the seller for a full set of original bills of lading.

After the shipper delivers the goods, the bill of lading can be delivered to the consignee through the bank (document L / C or collection and settlement), or it can be delivered directly to the consignee by post or through the person.

The consignee should pay attention to the notifying party on the bill of lading. After the goods listed in the bill of lading arrive at the port, the ship party will notify the notifying party, and the notifying party will then notify the consignee to take the bill of lading to the port for pickup. The time for the delivery person to collect the money depends on your agreed settlement method. If it is an irrevocable sight letter of credit, the bill of lading and other negotiable documents are delivered to the bank, the bank can negotiate the payment to the shipper without error. If it is a forward letter of credit or other foreign exchange settlement methods, a detailed analysis is required.