Bill of Lading

Collected by macs
http://animalspic.blogspot.com

It is a document issued by the shipping company or its agent

acknowledging the goods mentioned there in, on board the
carrying vessel, in apparent good order and condition unless
otherwise indicated there in, for shipment to the consignee on
terms and conditions as agreed upon as to their carriage. It is a
document of title to the goods described in it.

As per bill of lading Act 1856 it is the transport document of the

bills which is applicable to a carriage of goods solely by sea. Bill of
lading is a quasi negotiable instrument.

Particulars of Bill of lading

i. Name of the shipper, consignee and notify party with

address.

ii. The name of the carrying ship.

iii. Evidence that the goods have been loaded on board.

iv.The port of shipment and discharge.

v. The shipment date.

vi.Amount of freight paid or unpaid.

vii. Shipping marks etc.

Different kinds of B/L

i. Clean B/L: A bill of lading which acknowledges the receipt of

the goods on board the carrying vessel in apparent good
 order and condition and does not indicate any defective
condition of the goods or packages is called a clean Bill of
lading.

ii. Claused B/L: A Bill of lading which expressly declares a

defective condition of the goods and/or packages is called
a claused B/L.

iii. Combined B/L: When a B/L covers different mode of

transport say, ship, Train, Truck etc it is called combined
Bill of lading. Transshipment is normally allowed under
combined B/L.

iv. Through B/L: A through bill of lading is one which covers the
entire voyage from the port of shipment to the port of
destination. If not prohibited, transshipment and several
mode of transports is allowed under through Bill of lading.

v. Straight B/L: Bill of lading issued to the name of a certain

party and which cannot be transferred by endorsement is
called straight B/L.

vi. Stale B/L: A Bill of lading is called a stale one when it is

dated subsequent ot the date of shipment stipulated in
the credit or when it is dated later than expiry date of the
credit, or it has been hold too long before it is passed to a
Bank or to the consignee. If there is no presentation
period in the L/C, the B/L to be stale after 21 days from
the date of shipment.

vii. Short from B/L: A bill of lading in which the detail conditions
of transportation are not listed in full ( on the back of the
B/L) is called short from B/L.

viii. Port or Custody B/L: B/L issued by the port officer or ware
house supervisor stating that the goods have been
received for shipment, is called port or custody B/L.
ix. Charter Party B/L: It is a B/L of non liner vessel. Charter party
is a contract between the ship owners and the charterer.
Referring this contract when a B/L is issued it is called
charter party B/L. It covers the whole voyages in issuers
own direction and risk.

a) Time charter: If the ship is chartered for a particular

time, then it is called Time chartered.

b) Voyage charter: If the ship is chartered for a

particular voyage then it is voyage Charter.

x. Mate’s Receipt: It is issued by the agent of the shipping

company receiving the goods for shipment by a specified
vessel.

xi. Forwarder Cargo Receipt (FCR): It is a receipt issued by the

Forwarding Agent acknowledging receipt of the goods.