Bill of Lading - Connaissement Integral
Bill of Lading / B/L or BOL is a legal document, declaration issued by the carrier for inland, ocean or air transportation that cargo have been received on board for transportation to be delivered to designated destination and consigned to the receiving party. Air Waybill and Ocean Bill of Lading is a contract for the ocean transportation of goods stating all the terms of the carriage between the consignor and the carrier. Bill of Lading confirms the condition of the cargo and serves as a receipt of the shipment. B/L can endorse ownership transfer of the goods and is one of the most important documents in the shipping industry.
Master Ocean Bill of Lading (MBL) and Air Waybill
Master Ocean, Marine Bill of Lading is document of title issued by the carrier who will transport the freight from the shipper to named destination. Acquiring possession of the ocean bill of lading is entitling possession of the goods. On the other hand air waybill is only a transportation contract but does not provide possession of the cargo. Air Waybill is only a receipt for the cargo shipped and performs as cargo invoice and insurance certificate if insurance is requested. Master Air Waybill is generated by the airline or an indirect air carrier IAC acting as freight forwarder for the airline.
Hause Bill of Lading HBL and Air Waybill
House Bill of Lading is issued by the freight forwarder, NVOCC who arrange goods transportation with the carrier and may have multiple house b/l under one master. House B/L is generated by NVOCC or IAC to the shippers. It is shipping contract between the shipper and the freight forwarder (NVOCC / IAC) and act as receipt of the cargo shipped, freight invoice or insurance if requested. The purpose of HB/L is to define the terms of the shipment, condition of the carriage which is stated on the reverse side of house bill of lading.
Bill of Lading Includes:
- Shipper name and address
- Consignee name and address
- Notify Party name and address
- Carrier Information
- Place of Departure
- Port of Loading
- Destination
- Cargo information - cargo description, weight, etc.
- Classification of the commodity
Non Negotiable Bill of Lading
Non Negotiable Bill of Lading declares that the cargo is consigned to a specific person and is Non Negotiable. If carrier or someone holds a lien over the transported cargo the goods will not be released until that debt is paid. The endorsee is obligated by the lien. Non negotiable bill of lading is also known as Straight bill of lading does not give the title of the transported cargo.
Negotiable Bill of Lading
Negotiable freight Bill of Lading is the title of the cargo. Negotiable bill of lading issued “to order” can be trade, bought or sold while cargo is in transit. To be negotiable the B/L must states “to order”. The B/L Bearer declares that the ownership of the cargo belongs to the person who is holding the bill of lading
EXPRESS RELEASE = TELEX RELEASE = SURRENDER
Original Bill of Lading
Original Bill of Lading is made in three parts. First one is commonly sent to the consignee, second is sent to him by mail or some other conveyance; and the third is kept in possession by the shipper. If original bill of lading is required means that freight will be telex release when original documents are surrended to the carrier. Original Bill Of Lading is provided after full payment of the ocean freight.
Sea Waybill - Express Release
Sea Waybill Express Release or telex release of ocean freight shipment means that No Bill of Lading originals are required in order to claim possession of the cargo at destination. The ocean freight can be claimed only with copy of Bill Of Lading received by email or fax. Sea Waybill Express release / telex release will be issued with full payment of the ocean freight. When cargo is express released Bill of Lading Originals are not required. Some countries do not accept express releases on ocean freight. Original Bill of Lading will be issued and mailed to the final consignee at extra cost.
Bill of Lading Amendment (Revision)
Bill of Lading Revision can be issued if required by the shipper or consignee prior to vessel arrival at destination. The revision is always subject to additional B/L amendment fee. In order to avoid revision charges is recommended to check and provide correct information prior to loading date.
K&K GLOBAL LLC sample Bill of Lading.
