An important part of any shipment is the Bill of Lading (B/L). This document is an evidence of the contract for carriage of goods. This document is issued by a carrier to a shipper. It acknowledges that specified goods have been received on board as cargo for conveyance to a named place for delivery to the consignee.
As a buying office we export many different kinds of promotional items such as T-shirts, caps, pens, mugs and inventions around the world. When we ship we know that the bill of lading can be used as a traded object and has a number of purposes:
- It is evidence of the valid contract of carriage, or a chartering contract. It may incorporate the full terms of the contract between the consignor and the carrier by reference.
- It is a receipt signed by the carrier confirming whether goods matching the contract description have been received in good condition (B/L is described as clean if the products have been received on board in apparent good condition and stowed ready for transport).
- It is also a document of transfer, being freely transferable but not a negotiable instrument in the legal sense.
The bill of lading must contain the following information: • Name of the shipping company; • Flag of nationality; • Shipper’s name ; • Order and notify party; • Consignee;• Description of Goods; • Gross/net/tare weight; & • Freight rate/Measurements and weighment of goods/Total freight.
So, how does a bill of lading look like?
We had a curious scenario where a client mentioned to us that they would only arrange balance payment upon bill of lading being sent. This is a really complicated situation where we had to advance money to the factory in order to keep our customer happy. What about you? Have you ever faced this kind of situation?
Freight is not a simple business and many documents are involved. It is therefore very important for us to share with you all the process from the sourcing and production, including the Quality control and freight. Hope that the below list of blogs on shipping and sampling is helpful.
- Incoterms 2010
- Hazardous Goods
- When is Chinese New Year 2011?
- Calculating Import Duty to USA.
- Finding HS codes for calculating import
- Calculating Container Shipping Time
- Calculating shipping costs by Volume or Weight?
- How many products fit in a container
- Sending Samples to China
- Storage & Consolidation in China
Let us know what other items you might like us to post articles on.