Ocean bill of lading
| Ocean bill of lading |
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| See also |
Ocean bill of lading is a document used for transport of goods overseas. It describes both the exporter and the importer, as well as the description of the goods, instructions on the route of transport and the method of receipt of the goods
It can have three functions:
- carrier's receipt,
- collection document,
- invoice.
Types of Ocean bill of lading
- Straight bill of lading – not trasferable document. Then mostly used when the exporter knows that he will receive payment from the importer after receiving the goods. Only the person whose name appears on the list can report the load.
- Shipper's order bill of lading – negotiable document. the exporter's consignment note contains conditions that must be met at delivery. Conditions may include the letters of the conditions before receiving the goods.
- Clean bill of lading - the recipient receives the goods without any damage, defects or shortages. if the product contains defects, the clean bill of lading will not be issued.
- On board bill of lading - Only the ship's captain can sign such a bill of lading. Is issued only if the goods are loaded abroad, on the ship.
It is important, that if mixed methods of transportation are in use, the other document - inland bill of lading - will be necessary to transfer goods from the shore to the destination.
Shipper's orders bill of landing authorizes the escort bank to seize goods if they are late with payment. The bank does not release the title of the goods until it receives the payment. The bank will also not release the goods to the exporter until it meets all the conditions laid down in the contract (Treitel, G., 2011, s. 10-20).
Purposes of a Ocean bill of lading
Ocean bill of lading is a contract. Contains detailed information about the transport contract between the carrier and the sender. it also plays the role of a receipt or invoice. The carrier agreed to accept goods on board and deliver them to a specific place. Bill of lading is evidence of the facts stated in it, so that shipped bill is evidence that the goods described in it have been shipped and that the date of shipment is as stated in the bill. Ocean bill of lading showing that the goods have been loaded on board. The exporter is aware that his goods are exactly on the given ship (Gaskel, N., 2000, s. 12-15).
Serves as evidence of the contract, acceptance and transport of goods. Is issued as 3 originals, which must be sealed and signed, and non-transferable 6 copies.
Using the ocean bill of lading, the sender has the option of sending a parcel to each of them:
- Direct customer
- At the customer's request
- At the bank's request
If it is a Straight bill of lading, the load can be delivered to the designated recipient, but after the ocean bill is presented to the forwarding port agents. The carrier is responsible for the goods from the moment they are loaded in the port. His liability ends when the goods are delivered to the destination or indicated delivery port. The cean bill of lading should not be information about the place of origin or destination of the commodity, because it moves only from one port to another. The port in this case is the midpoint between the starting point and the end point (Yiannopoulos, A.N., 1995, s.19).
References
- Gaskel, N., (2000). Bill of lading. Law and Contracts 2e. Routledge, London.
- McLaghlin, C. B. (1926). The evolution of the ocean bill of lading. The Yale law journal, 35(5), 548-570.
- Treitel, G., Reynolds F.M.B, (2011). Carver on Bill of lading. Thomson Routers, London.
- Yiannopoulos A.N., (1995). Ocean Bills of Lading: Traditional Forms, Substitutes, and Edi Systems. Kluwer Law Internatioanl, Netherlands.
Author: Beata Kocyłowska
