To know the Commercial and Transportation terms is very important to run any business. Specially which business mainly done by Internationally.
Today I am going to published some terms of Transportation which is very essential for apparel business.
TRANSPORT TERMS
Bill Of Lading (B/L)
- It is a major document if the goods are dispatched by sea.
The document represents:
1. A formal receipt
for the goods
2. The evidence of
the contract of carriage of the goods between the shipper of the goods and the
shipping company
3. The title to the
goods
A bill of lading should include the following details:
·
A description of the goods in general terms not
inconsistent with that in the credit
·
Identifying marks and numbers, if any
·
The name of the carrying vessel
·
Evidence that the goods have been loaded on
board
·
The ports of shipment and discharge
·
The names
of shipper, consignee (if not made out "to order"), and name and
address of the "notify" party if any
·
Whether freight has been paid or is payable at
destination
·
The number of original bills of lading issued
·
The date of issue
·
The departure date of carrying vessel
Combined Transport
Bill of Lading
A bill of lading covering carriage by a combination of
transport movements where the carrier issuing the bill undertakes
responsibility for the goods from a point or place of receipt to a point or
place named in the bill of lading. This document is also commonly called a
"container bill of lading" as it is issued by container companies and
their agents.
Groupage Bill of
Lading /House Bill of Lading
When the order amount is insufficient to fill a container,
the supplier might request that the forwarder combine several orders that are
going to the same port of destination into one container to save freight charges
for all the parties concerned. The forwarder does this and delivers the
container to the shipping lines, which treats the container as one shipment and
issues one set of bill of lading to the order of the forwarder, who in turn
issues "groupage bill of lading" or "house bill of lading"
to each of the suppliers. These documents merely serve as a delivery order
notice or shipping certificate to direct forwarding agents at the port of
destination to deliver the goods to the holders of the house bills of lading.
Negotiable Bill of
Lading
The bill of lading is consigned to "the order" of
the shipper, and blank endorsed on the back to the order of the bank which
issues the letter of credit for the buyer.
Non-Negotiable Bill
of Lading
The document is consigned to a specific party and delivery
by the carrier is to the consignee only. The consignee must produce an original
bill of lading in order to take delivery of the goods.
On Board Bill of
Lading
The document confirms that the goods have been loaded on board
for shipment, validated by the shipper confirming the name of the vessel and
the date of boarding. This document is always requested by the bank unless
otherwise stipulated in the letter of credit.
Stale Bill of Lading
The bill of lading is tendered to the negotiating bank at so
late a date after sailing that the negotiating bank could not negotiate the
documentary letter of credit before arrival of the goods at the port of
destination.
Third Party Bill of
Lading
This is a bill of
lading that does not show the shipper as the beneficiary of the shipment but
rather that the goods are consigned to a third party. Unless expressly
prohibited in the terms of the letter of credit, this type of bill of lading is
commonly accepted for negotiation by the banks.
Through Bill of
Lading
This is an ordinary bill of lading with the exception that
it indicates that the cargo will be unloaded at a port of discharge and then
carried to a final destination by another sea carrier. The through bill of
lading can also be used for transfers, trans shipments, relays, or more than
one mode of transport, similar to a combined transport bill of lading.
Unclean Bill of
Lading
A bill of lading that bears a superimposed clause or
statement expressing reservations about the condition of the goods or packing.
If such remarks are shown on a bill of lading, the document will be treated as
"unclean" or "claused" and considered a discrepancy by the
banks.
House Airwaybill
A master airwaybill covers the whole shipment; a house
airwaybill is a receipt issued by a forwarder to each separate customer for his
shipment in a single airwaybill.
Master Airwaybill
A receipt or air consignment note issued by an airline or
their authorised agents evidencing the dispatch of merchandise by air freight.
Usually three originals are made: one for the consignee, one for the shipper/supplier,
and one retained by the issuing carrier.
(Collected and Edited)
----------------------------------
Thanks & Best Regards
Thanks & Best Regards
Enamul Haque Bipul
E-mail: ehbipul@gmail.com
Skype: bipul1984
Mob: +8801717264756
No comments:
Post a Comment