Bill of Lading

When goods are shipped by a carrier or stored in a warehouse before sale, a bailment often occurs. The owner of the goods is the bailor, the warehouseman or carrier is the bailee. An owner of goods who sends them through a carrier receives a receipt called a bill of lading, which contains instructions to the carrier regarding destination and the like, as well as the terms of the shipping agreement. If goods are stored with a bailee before sale, the owner will receive a warehouse receipt, which will also contain the terms of the storage agreement. Both instructions are sometimes referred to as documents of title, because they provide evidence of title to goods.

A maritime or marine bill of lading is a transport document for goods shipped by sea. In spite of considerable growth of container transport, the marine bill of lading is still the most common transport document for exporting to Africa, Asia and the Middle East (particularly when payment by the overseas buyer for the goods is arranged through the banking system.

A bill of lading has three separate functions.

1. It is evidence of a contract of carriage between the shipping company and either the exporter or the foreign buyer, to transport the goods by sea.

2. It is a receipt for the goods taken on board ship, and provides some details about the condition of goods received.

(a) A clean bill of lading is one which does not have any statement by the shipping company that there is some defect in the goods or their packaging.

(b) A foul or dirty bill of lading is one which may carry a statement that the goods received or their packaging is damaged (in a specified way).

(c) A received for shipment bill of lading merely confirms that the shipping company has the goods in its custody for shipment. This type of bill of lading is commonly used for goods packed into containers at the exporter’s factory or at an inland depot and then driven on board ship. The shipping company endorses the received for shipment bill of lading to confirm that it has taken custody of the containers. You might also come across the term “container bill of lading”.

3. A bill of lading, once signed by the exporter, is also a document of title, which means that the holder of the bill of lading has the right to possess the goods.

The “document of title” aspect of a bill of lading is also very important for the payment arrangements, ie the procedures whereby the buyer pays the exporter for the goods. A bill of lading is usually made out in sets of two, three or even more originals, all signed and any one of them giving the holder title to the goods.

When a bank handles a bill of lading, it must therefore be sure to check that it has a full set of the signed originals, because only a full set ensures complete control over the right to possess to goods.

A bill of lading is prepared by the exporter (or a freight forwarding agent) and then given to the shipping company for completion. The shipping company acknowledges receipt, and adds any statement about damaged goods or packaging where necessary. If the goods are undamaged the shipping company will issue a clean bill of lading. The shipping company’s terms and conditions of carriage, however, are printed on the back of the bill of lading.

A firm of freight forwarders might use its own “house” bill of lading.

When the shipping company returns these signed originals, they can now perform their three functions of (1) evidence of contract, (2) receipt for the goods and (3) document of title.

Title to the goods can be transferred by the sender, using a (marine) bill of lading, in one of three ways.

· Issuing a bill of lading to order and endorsed them in blank. The title to the goods can be obtained by anyone presenting a signed original copy of the bill of lading.

· Issuing a bill of lading to the order of the named buyer or bank abroad.

· Issuing a bill of lading to the order of the named buyer, but arranging for the bill of lading to be presented to the buyer through the international banking system.

Since the bill of lading will be despatched to the buyer, perhaps through the banking system, usually long before the goods arrive at their destination, evidence that the goods are in fact on the way might be provided by the wording “shipped” or “since shipped” on the bill.

A bill of lading must show clearly that the conditions of shipment between buyer and seller have been met, with regard to arrangements for dividing responsibilities for carriage and insurance.

For example, if the terms are:

1. “FAS Liverpool” the bill of lading would indicate that goods had been received at Liverpool for putting on board ship.

2. “FOB Bristol” the bill of lading would indicate that the goods had been loaded on board ship, and the port of loading on the bill would be Bristol.

3. “CFR Adelaide” would show that the goods had been loaded on board ship, with a destination of Adelaide. A statement “freight paid” would also be included for the benefit of the overseas consignee.

4. “CIF Calcutta” would show that the goods had been loaded on board ship, with a destination of Calcutta. A statement “freight paid” would be included. The shipper is not concerned with insurance for the goods, and evidence of insurance would not be included on the bill of lading.(It would be provided by the certificate of insurance, or the insurance policy.)

Дата добавления: 2015-09-07