What is Bill of Lading? What are the various types of bill of lading?

Q-11    What is Bill of Lading? What are the various types of bill of lading?

 

Ans-11 A bill of lading is a document used at the time of export of goods. B/L is issued by the shipping

           company or its agents. It is issued when the shipping company receives the goods for shipment.

           It is a receipt of the goods, delivered to the shipping company. It is an acknowledgement to the

           effect that goods are received by the shipping company for the shipment.

 

           The various types of Bill of Lading are:

 

1.        To order bill of lading: It means that B/L can be endorsed by the shippers or his bank or

           by another specified party in the favour of other person. So that goods are delivered on the transfer

           of B/L. Some times the endorsement can be in blank i.e. transferee name is not mentioned.

 

2.       Clean bill of lading: It is issued when an adverse negative remark is made about the

          appearance and condition of goods. It states that goods received by the shipping company were not

          in a good condition.

 

3.       Freight Paid/Collect Bill of Lading:  Freight paid bill of Lading is issued when goods are

          exported on CIF basis and freight is paid by the exporter.  Freight collect bill of Lading is issued

          when goods are exported on FOB basis and freight is not paid.

 

4.      Claused Bill of Lading:  A bill of Lading which is marked with any adverse entry about apparent

         order of conditions of goods is called claused bill of Lading.

 

5.      Direct Bill of Lading:  This bill of Lading is issued when the initial vessel takes the consignment

         from the port of shipment to the port of discharge. It is issued when cargo/goods are carried in same

         vessel up to the port of destination.

 

6.      Through Bill of Lading:  When a cargo has to be shipped in a vessel, that will take it to the port

         of destination then through B/L is issued. This means that cargo is shipped in a vessel that will

         not carry it to the port of destination. Rather cargo will be shipped into another vessel that will take

         it to the port of destination.

 

7.      Stale Bill of Lading:  A B/L is said to be stale B/L if it is presented to the bank after withholding it

         for some time & then it may not reach the overseas buyer before the ship's arrival.

 

8.      Charter Party Bill of Lading: When the exporter for the shipment of his goods hires a vessel or

         substantial part of vessel then charter party B/L is issued.

 

9.      Steamship Bill of Lading: When the goods are shipped in a vessel that will carry cargo for

         other exporter also then steamship B/L is issued. It means that the exporter himself does not

         hire the whole vessel or a substantial part of vessel.

 

10.    Container Bill of Lading: When the cargo is transported from an inland place of the shipper to

         final placer of its arrival then container shipping lines issue the container bill of Lading.

 

11.    Custody & Port Bill of Lading: Custody B/L is issued when the goods are received by the

         shipping company for the (shipment by vessel). Port B/L in issued when the vessel has arrived but

         still the goods an not taken on the board of vessel. (These are used for the export of cotton in America).

 

12.    House/Groupage Bill of Lading/Forwarding Agents Bill of Lading: These B/L are issued

         by clearing & forwarding agents. When the agents collect the same type of cargo for different

         exports & group into the single consignment then they issues this B/L to the exporter.

 

13.    Negotiable Bill of Lading: A bill of Lading is said to be negotiable when made negotiable by the

         exporter and transferred to anybody for taking delivery of the goods. It means that title of goods

         can be transferred to another person by the transfer of B/L.

 

14.    On Deck Bill of Lading: It states that the goods have been loaded for storage on deck.

 

15.    Ocean Liner Bill of Lading: When goods are exported through sea, under the terms of L/C then

         ocean liner bill of lading is issued.

 

16.    Third Party Bill of Lading:  When the goods are shipped by the person other than the sailor

         than third party B/L is issued. This third person should endorse it in the favour of exporter.

 

17.    Ships Bag Bill of Lading: Ships bill of Lading is issued which is to be sent in ship’s bag with the

         same cargo so that it is immediately available when the ship arrives at the port of destination.

         By doing so a B/L is made available to the importer of goods as soon as vessel reaches his port.

 

18.     Shipped (On Board) & Received Bill of Lading (Alongside B/L): When the goods are loaded

          on board of the ship the shipped bill of Lading is issued. Where the goods are received by

          shipping company for storing or for any other purpose then received bill of Lading is issued.  It

          certifies only receipt of goods.

 

19.     Short Form Bill of Lading: A short form B/L is one which does not contain whole of the terms &

          conditions & clauses of the B/L. In this B/L a reference of another document is given from where

          all the terms/conditions and clauses can be taken.

 

20.     Combined Bill of Lading: Combined bill is that form of bill of Lading which covers the several

          modes of transport (viz air, land, sea)

 

21.     A Clause Bill of Lading: It is that bill of Lading which contains additional clauses limiting the

          responsibility of the shipping Co. and indicates defective conditions of the goods.

 

22.     State Bill of Lading : This bill of lading is issued in the name of consignee when consignment of goods is

         made through confirmed, irrevocable and without recourse letter of credit.