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OCEAN BILL OF LADING AND DOCUMENTATIONS - Coggle Diagram
OCEAN BILL OF LADING AND DOCUMENTATIONS
The importance of documentation
A sales contract is an agreement between a buyer and seller covering the sale and delivery of goods, securities, and other personal property.
What is C/I? (Commercial Invoice)
A document of contents containing information about true value of goods when assessing customs duties and taxes.
A P/L is a document that includes details about the contents of a package.
C/O is commonly issued by a trade promotion office or a chamber of
commerce in the exporting country
What is L/C? (Letter of Credit)
A written commitment to pay by a buyer’s or importer’s bank (called the issuing bank) to the seller’s or exporter’s bank (called the accepting bank, negotiating bank or paying bank).
Bill of Lading
B/L is one of the MOST important documents in the whole shipping and freight chain.
B/L is a certificate issued by carrier to a shipper evidencing that the goods in good condition have been received or shipped on board the named vessel; promising to deliver the goods to the named consignee.
Different types of B/L
The modes of transport
Whether the goods have been loaded on board the vessel
Shipped on Board B/L
Received for shipment B/L
The carrier of goods certifies on such ‘on board’ by mentioning in B/L by mentioned as:
‘Shipped on board’
‘Laden on Board’
‘On board’
Shipped
This DOES NOT mean that the container(s) has been shipped on board.
The contents of the B/L
Surrendered B/L
It can delivery without the original bill
Just one copy of B/L with “Surrendered”, do not need to sign and seal
A Telex Release is simply a message that is sent by the shipping line or agent at load port to their office or agent at discharge port
A B/L can be treated as ‘Stale’ , if it is presented long after sailing of vessel pertaining to a shipment at port of loading
FIATFCT is only available to FIATA member freight forwarders.
A FCT (Forwarders Certificate of Transport)
The time for payment of freight
Whether there are notes on the B/L
B/L that is free from any adverse remarks or notations made by the shipping company about the condition, quantity, quality of the goods being shipped.
⮿ “insufficiently packages”
⮿ “carton old and stained”
⮿ “packages in damaged condition”
The validity
Whether the B/L is transferable
Do not write the name of consignee.
To order of shipper
To order of consignee
To order of the bank
Modes of operation and transportation
Liner B/L
B/L which indicates that goods are
being transported on a ship that travels on a scheduled route and has a reserved berth at destination.
B/L is released when shipper booking liner.
Charter Party B/L
B/L issued by the hirer of a ship to the exporter, subject to the contract of hire between the ship’s owner and hirer.
On the bill always have “to be used with charter party”.
Differences between MBL &HBL
MB/L and HB/L are important to all parties in the supply chain and freight forwarders.
The Notify Party could be the same as
Consignee.
Made both telex release or seaway bill.
Have Original B/L and Surrendered B/L.
PAYMENT FUNCTION
IMPACT OF RULE
DIFFERENCES IN FORM
THE SAFETY
SWB
Shipper does not need to send Original B/L to the consignee. Just released 1 original Seaway Bill
Saving time and cost of sending to post office.
Banks usually do not accept SWB for purchase in the form of L/C.
Using SWB is less common than using B/L. Because a bank, a seller and a buyer think that "B/L is the best way to protect their rights”.
Analyzing B/L
SHIPPER
CONSIGNEE
Notify Party
LOGO OF SHIPPING LINE
B/L NO
PLACE OF RECEIPT
PORT OF LOADING
PLACE OF DELIVERY
PORT OF DISCHARGE
Ocean VESSEL/ VOYAGE No.
CONTAINER NO. & SEAL NO. MARKS
NUMBER OF PACKAGES
DESCRIPTION OF GOODS
GROSS WEIGHT
MEASUREMENT
Number of Containers or Packages
FREIGHT AND CHARGES
PLACE OF ISSUE
DATE OF ISSUE
NUMBER OF ORIGINAL
B/L
SIGNATURE
B/L Clauses
Back side of the B/L
Changing Standard B/L Terms
Below Deck Stowage
Carrier’s Right To Tranship
Delayed cargo arrival
Consignee’s obligation to take delivery
Carrier’s lien on cargo
Detention clause
Additional B/L Clauses
“Said to contain”
No cargo samples
Seaworthiness
Goods in transit
No transhipment
Commonly used terms
Terms of shipment/ Container load type
