What are the BL types?

Types of Bills of Lading
  • Inland bill of lading.
  • Ocean bill of lading.
  • Through bill of lading.
  • Negotiable bill of lading.
  • Non-negotiable bill of lading2.
  • Claused bill of lading.
  • Clean bill of lading.
  • Uniform bill of lading.

Why are there 3 original bills of lading?

Again, there are 3 original bills of lading because a risk is involved in sending the bills of lading to the consignee (i.e., the possibility of loss). Nowadays, surrendered bills of lading or waybills are used to minimize the risk of trouble resulting from the non-delivery of the bill of lading.

What are the characteristics of bill of lading?

Three common characteristics of a bill of lading are that (a) it constitutes a receipt for the goods shipped or received by the carrier, (b) it constitutes a document of title for such goods3 and (c) it contains or evidences the contract of carriage by sea relating to the goods.

What is the most common type of bill of lading?

1. Straight Bill of Lading. This type of Bill of lading is also known as a “Consignment BOL” and is used when transporting goods to a customer who has already paid for them.

What are the 4 main functions of bill of lading?

A bill of lading must be transferable, and serves three main functions: it is a conclusive receipt, i.e. an acknowledgement that the goods have been loaded; and. it contains, or evidences, the terms of the contract of carriage; and. it serves as a document of title to the goods, subject to the nemo dat rule.

What are the four main functions of bill of lading?

What Is A Bill Of Lading? And Why Do I Need It?
  • It provides evidence of the contract terms of carriage. The bill of lading will detail what is being shipped including the type of shipment, how much of it there is, and the destination. …
  • It acts as a receipt. …
  • It acts as the title of goods (representing ownership)

How many types of Bol are there?

There are usually two types of bill of lading, the House Bill of Lading and the Master Bill of Lading. An ocean bill of lading indicates a particular carrier through which the goods have been placed to their final destination and the conditions for transporting the shipment to its final destination.

How many bill of lading are there?

Typically, there are three bills of lading, one for the shipper, one for the consignee, and one for the banker, but there is no limit to the number of bills of lading issued. Addition bills of lading increase the risk of fraud, theft, or the unauthorized release of goods.

What is a telex bill of lading?

Also known as a release bill of lading, telex bill of lading, and telegraphic transfer, a telex release is an email message containing bill of lading information that allows a carrier to release goods to a designated recipient without having the physical, original bill of lading in hand.

What is the difference between original BL and express BL?

An express bill of lading is a type of bill of lading (B/L) in which the carrier is obligated to deliver the goods to the named consignee and no original bills of lading (OBL) are issued at all.

What is the difference between original BL and surrender BL?

Surrender means collecting B/L by an original land which means collecting B/L at exporting side. Once it is surrendered, Original document of B/L is not required.. The importer can get D/O by getting a B/L copy instead of Original. Surrendered B/L is stamped as “Surrendered” and “Telex Release.”

How many original bills of lading must I surrender to get release of cargo?

Standard number of original bills of lading issued seems to be 3 Originals, so assuming 3 originals have been issued, upon surrender of one of the duly endorsed original bill of lading, the other 2 becomes null and void..

How many types of BL are there?

There are usually two types of bill of lading, the House Bill of Lading and the Master Bill of Lading. An ocean bill of lading indicates a particular carrier through which the goods have been placed to their final destination and the conditions for transporting the shipment to its final destination.

What is OBL number?

An Original Bill of Lading (OBL) is a document that serves as proof of ownership of the importer’s goods. The OBL is typically issued by the origin forwarder on the origin manufacturer’s behalf. Once the origin manufacturer receives payment for the goods the importer purchased, the shipper arranges for release.

What is difference between HBL and OBL?

Let me conclude below: Bill of lading (BL) is a document, which is a proof of receipt of goods from shipper issued by sea carrier. If a freight forwarder, NVOCC or a consolidator involved in a shipment, such forwarder issues a document of receipt of goods to the final shipper which is called House bill of lading (HBL).

What does OBL mean in shipping?

original bill of lading
What is an original bill of lading? An original bill of lading (OBL) is a contract of carriage that serves as a title of the cargo and confirms the carrier’s receipt of the cargo.

What is a telex bill?

What Is a Telex Release? Also known as a release bill of lading, telex bill of lading, and telegraphic transfer, a telex release is an email message containing bill of lading information that allows a carrier to release goods to a designated recipient without having the physical, original bill of lading in hand.

What is the difference between OBL and telex release?

An original Bill of Lading is a paper bill of lading issued to a customer whereas a Telex Release is an electronic release issued in return for the surrender of an original Bill of Lading.

What is HBL in shipping?

A House Bill of Lading (HBL) is issued by an NVOCC operator, or a Freight Forwarder to their customers.. A Master Bill of Lading (MBL) is issued by the Shipping Line (Carrier) to the NVOCC Operator, or Freight Forwarder..

What is Sea Waybill of lading?

A Sea Waybill is evidence of a contract of carriage and receipt of the goods being transported; whereas a Bill of Lading acts as the contract of carriage and receipt of the goods, while also serving as a document of title affording ownership.

What is difference between MBL and HBL?

MBL is Master Bill of Lading issued by main carrier of goods on receipt of goods from a freight forwarder to deliver at destination as per agreed terms. HBL means House Bill of Lading issued by a freight forwarder on receipt of goods from shipper agreeing to deliver goods at destination.