Presentation Topic Bills of Lading & Bills of Exchange

Historical review
Already in 1882 Lord Blackburn suggested that making a bill of lading in parts would be confusion unless the delivery of one part of the bill of lading had the same effect as the delivery of all parts would have had. He also noticed that making only one bill of lading which should be the sole document of title (master document) and taking copies, certified by the master to be true copies which would suffer for every legitimation purpose (e.g. for an appraisal) for which the other parts of the bill can be applied, but could not be used for the purpose of pretending to be the holder of a bill already parted with.

 It is a receipt signed by the carrier confirming whether goods matching the contract description have been received in good condition (a bill will be described as clean if the goods have been received on board in apparent good condition and stowed ready for transport) . BOL is also a document of transfer, being freely transferable .

Meaning of BOLA bill of lading can be used as a traded object. The standard short form bill of lading is evidence of the contract of carriage of goods and it serves a number of purposes:

It is evidence that a valid contract of carriage i.e. the short form simply refers to the main contract as an existing document, whereas the long form of a bill of lading issued by the carrier( i.e. the short form simply refers to the main contract as an existing document, whereas the long form of a bill of lading issued by the carrier

The BOL must contain the following information :

Name of the shipping company; Flag of nationality; Shipper's name; Order and notify party; Description of goods; Gross/net weight; and Freight rate/measurements and weighment of goods/total freight

Type of BOL Straight bill of lading Order bill of lading Bearer bill of lading Other terminology

Straight bill of lading

Bill of lading for casks of wine shipped by United States Consul to Lisbon, Portugal, William Jarvis to President Thomas Jefferson.

Order bill of lading

This bill uses express words to make the bill negotiable, e.g. it states that delivery is to be made to the further order of the consignee using words such as "delivery to A Ltd. or to order or assigns". Consequently, it can be indorsed (legal spelling of endorse, maintained in all statute, including Bills of Exchange Act 1909 (CTH)) by A Ltd. or the right to take delivery can be transferred by physical delivery of the bill accompanied by adequate evidence of A Ltd.'s intention to transfer.

Straight bill of lading

In this importer/consignee/agent is named in the bill of lading, it is called straight bill of lading. It is a document, in which a seller agrees to use a certain transportation to ship a good to a certain location, where the bill assigned to a certain party. It details to the quality and quantity of goods..

Bearer bill of lading

This bill states that delivery shall be made to whosoever holds the bill. Such bill may be created explicitly or it is an order bill that fails to nominate the consignee whether in its original form or through an endorsement in blank. A bearer bill can be negotiated by physical delivery.

Surrender bill of lading

Under a term import documentary credit the bank releases the documents on receipt from the negotiating bank but the importer does not pay the bank until the maturity of the draft under the relative credit. This direct liability is called Surrender Bill of Lading (SBL), i.e. when we hand over the bill of lading we surrender title to the goods and our power of sale over the goods. A clean bill of lading states that the cargo has been loaded on board the ship in apparent good order and condition. Such a BL will not bear a clause or notation which expressively declares a defective condition of goods and/or the packaging. Thus, a BL that reflects the fact that the carrier received the goods in good condition. The opposite term is a soiled bill of lading, which reflects that the goods are received by the carrier in anything but good condition.

Other terminology
A sea or air Waybill is a non-negotiable receipt issued by the carrier. It is most common in the container trade either where the Cargo is likely to arrive before the formal documents or where the shipper does not insist on separate bills for every item of cargo carried. The UK's Carriage of Goods by Sea Act 1992 creates a further class of document known as a ship's delivery order which contains an undertaking to carry goods by sea but is neither a bill nor a waybill.

Bills Of Exchange
BOE(Bills of Exchange) Is the export & Import document Bill of Exchange is a rectim account. We have received the bill from customer against sales value. The bill is submitted at bank. after completion of the period the amount paid by customer to bank.

Sight Bills Of Exchange

Sight bill of exchange is the situation when the drawer has asked the drawee to make payment against the draft bill of exchange. The importer will given the shipping Document for getting Delivery.

Types of Bills Of Exchange

Sight Bills Of Exchange Usage Bill of Exchange Documentary Bill of Exchange

Usage Bill of Exchange

Usage bill of exchange is mention credit period & allowed for the import. The importer will accept obligation after putting his seal & signiture on the face of bill of exchange

Documentary Bill of Exchange

It can be used for shipping document . & used for bank lone . e.g-bills lading ,marine insurance policy,commercial inovice,certifficate of origine etc.

Used In Bank Lone

Generally we will go for bills of exchange for getting loan from bank. it is also one form of getting loan from the bank. we will keep bills with the bank and we will get loan from the bank. the loan value(varies from 80-95% of bills amount) depends on various things like maturity date, risk, interest etc. Bank will recover the amount against the customer payments. Bank will charge some thing for bills of exchange, so banks get benefit from it and company will get liquidity so company can able to do more turnover.

Document of BOE

Discount Bill

British BOE Document