Types of bills of lading Straight bill of lading –used when the shipment has been paid for in advance and the carrier is delivering the freight to the buyer or other appropriate party. Order bill of lading –used when the goods are being shipped before they’re paid for. It is expressed...
5. Straight Bill of Lading A Straight BOL refers to the scenario where the seller has already been paid and the carrier can deliver the shipment “straight” to the consignee. Other Key Documents
What is a Bill of Lading (B/L)? A definition of Bill of Lading is according to Investopedia “a legal document issued by a carrier to a shipper that carries all the necessary details of the shipment such as type, quantity, and destination of the goods.” The Bill of Lading acts as a...
A bill of lading (BOL) is a document used as evidence that a carrier or company received goods from a shipper. It demonstrates thechain of custodyfrom shipper to carrier, creating a contract between two parties for the delivery of the merchandise to the next carrier or purchasing party. A ...
A sea waybill is used in lieu of a bill of lading for straight consignments whenever a letter of credit or similar banking arrangement is not involved in the sale of goods. The sea waybill is suitable for regular shipments between related companies which do not require settlements through banks...
When goods are transported by ship, an ocean bill of lading is issued. Ocean freight to or from the U.S. is regulated by the Federal Maritime Commission (FMC). Common types of ocean bills of lading or releases are: A straight bill of lading: This is a non-negotiable form of the B/...
A switch bill of lading is not to be confused with another type of bill of lading. It is another set of bills of lading issued by the shipping company, which replaces the first set of originals that was issued by it at the time of shipment.
The Bill of Lading (BL) was historically used only in sea shipping, but today it applies to any mode of shipping. Generally, when speaking of BL, we mean marine BL or ocean BL. It is a core document that can help control international trade and shipping risks. People engaging in ...
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A straight bill of lading spells out how a carrier can limit their liability. A negotiable bill of landing can be transferred to a third party throughconsignment. This happens when the consignee (the person or entity that is the buyer and is financially responsible for the goods) signs or en...