Sign Maine Banking Bill Of Lading Simple

Industry sign banking maine bill of lading simple

the topic for today's video is bills of lading and in this video I'll be talking about what are bills of lading what are the functions of bills of lading the types of bills of lading how does the Bill of Lading differ from via bills and myths receipt we'll talk about signing of bills of lading and the problems encounter with alright so let's start with the functions of bills of lading so bills of lading x' the main functions are it's used as a receipt for goods received in vessels custody it is a evidence of contract of carriage of the goods and it's also a document of title so person who has the bills of lading basically holds the title to the cargo it is the shippers responsibility to provide the bill of lading if vessel or the charter party has in a pod format for a bills of lading that is what should be preferably used normally two or more negotiable with one or more negotiable non-negotiable including captain's copy is issued all copies will be stamped copy non negotiable and masters copy is stamped accordingly which clearly mentions that it's the masters copy of bills of lading the other functions is that Master Mace sign or agent may sign if permitted by the Charter body the bill of lading is based on the eighth receipt and number of originals issued is mentioned on the pill of reading a bill of lading is basically a contract between the carrier and the cargo carrier then we talk about the different types of bills of lading so there is a clean bill of lading which is said to be clean when it bears no superimposed clauses expressing declaring a defective condition of the goods or packaging afoul of below play a foul bill of lading is one which is not clean in the above sense and is described as foul or unclean or closed so that basically contains an expression which declares a defective condition of the goods receiver bill of lading is issued to a shipper when he or she delivers goods into the custody of the ship owner or the latter's agent the or the carrying ship has arrived or is ready to receive the goods shipped bill of lading is issued after the goods have been actually loaded on the ship if it has been previously been given however it must be surrendered in exchange for or converted into a shipped bill of lading a direct bill of lading covering the carriage of goods in one ship direct from one port to the another then we have an open bill of lading which gives no indication whatsoever of whom the goods are consigned to a holder presenting an open bill of lading should or would be entitled to take the delivery of goods but would have no right to hold them against the rightful owner a straight bill of lading is issued solely in favour of named consign II know holder of such bill other than the name concern he himself would be entitled to take the delivery of the goods we have the bearer bill of lading which makes goods deliverable to the bearer and does not require any kind of endorsement the property passes by a mere delivery an outward bill of lading is one which is issued in respect of goods being exported from the country to a distribution abroad and in contrast the homeward bill of lading is one and that is issued abroad to cover of shipment of goods being imported into the country the majority of the bill of lading is the order type of bill of lading which are negotiable documents that is one part of the set must be surrendered duly endorsed in exchange for the goods or a delivery order endorsement may be effected by either first the blank endorsement where the person to whose order the goods are made deliverable simply writes his name on the back of the bill and special endorsement which is endorsement to some named person or persons then we have the thorough bill of lading which is used for multi transport which provides evidence of a contract of carriage from one place to another in support in separate stages of which at least one stage is see transit and by which the issuing see carrier accepts responsibility for the sea carriage and acts agent for the shipper in arranging carriage from place of accept to the final place of delivery it should be noted that more than one karat is used hence the term multi transport and hence and that the issuer only accepts responsibility for his own segment of the carriage he then cast himself in the role of agent as between the shipper and other carriers if the loss or damage was caused while in their hands it is usual for the issuer of the bill of lading to agree if it can't be Trude where the goods were when the loss or damage occurred it shall be deemed to have occurred at sea and the carrier shall be liable sea carriers frequently undertake the responsibility of arranging thorough transit for instance a shipment consign from London to Bangkok may be carried from London to Singapore and there transshipped for conveyance by the other vessel to Bangkok Fred for the entire journey would be prepaid as the principle sea carrier to the principle sea carrier then we have the combined transportable ability this is a negotiable document which point transport contract the taking in charge of the goose described by the combined transfer operator at a place of acceptance and in undertaking by him to deliver the goods at a place of delivery again surrender of the document in this case the issuer accepts responsibility for the entire movement and principle with respect to the shipper and other carriers more than one type of carriage in relay involved when the stage of transport where loss or damage occurred is known the combined transport operators liability to the shipper or consigning is decided by the International Convention of domestic law applicable used for door to door transport what is so in combined transport of course one person takes in charge of the whole carries whereas in thorough Bill of Lading we have multiple transported people only take responsibility for a particular session that is powered by how does Bill of Lading differ from his receipt well Bill of Lading is the evidence of contract of carriage whereas mistress it is not bill of ladings also a proof of title of courage of cargo may stress it is not Bill of Lading can be considered a legal document for international trade may associate cannot be considered a legal document bill of ladings are indoor scible whereas mais receipt or not bill of lading is signed only by the master or agent but the mace receipt can be signed by the duty officer chief officer of the master and finally bills of lading can be used by banks for cash released to the seller whereas minutes receipts cannot be used as a basis for release of cash bill of lading at 1855 states that every consigning named in Bill of Lading shall have vested in him all right so sued and subject to same liabilities as if contract in Bill of Lading was made with himself nothing shall produce or effect any right of stoppage in transit or any claim for Fred against the original shipper or every bill of lading shall be conclusive proof of such shipment against master or other persons signing the same so in in comparison waterway bills will be a bills are non negotiable documents many liner companies issue instead of bill of lading they are suitable for use when there is a possibility of documents arriving after the goods at the destination or when there is no payment required it is not a document of title as goods can be delivered only on identity without proper documents will the way bills are also used in contract of affray meant of fragments the way bill has names and address of shipper concerning carrier it also carries details of goods including quantity weight and marks as well as the declared value of the goods waybills is evidence of contract and received for goods elsewhere what are the precautions before signing a bill of lading will the bill of lading before you sign it it should be in proper form it could be the shipowners form of the Charter is prescribed form it should be correctly dated with the date of shipment the means receipt showing that goods are actually on board and there order and condition of the goods and details of any shortage have been surrendered it should be considered as well marginal clauses as required should be included but only those which are really necessary and lawful bills of lading should also declare that the freight is free payable and has been paid and if the ship is under charter and that owners right under the charter party are preserved the name of the vessel port of loading and discharge should also be mentioned in the bill of lading before you cite the name of the shipper consign he should also be mentioned condition and quantity of cargo additional under the chyme chatter date of relevant charter party terms conditions and exceptions as per charter party and endorsement of demurrage at loading port if Lee it is a reversible should also be included in the bill of lading finally in terms of signing of bills of lading if master does not know the weight or quantity loaded then the words then the words weight in quantity unknown should be written alongside the figure if she figures vary with Shore figures measured both are mentioned if master knows only the apparent condition of the cargo it should be mark accordingly if goods are damaged and noticeable then master should endorse it the words weight measure quantity condition contents and value unknown should be added the word said to be when used alone affords no production protection but when used in conjunction with set by shipper to be or set by the shipper to contain points out that no verification has been made by the carrier what are the problems experienced with bills of lading well if no original bill of lading is available a discharge boat what do you do when the unavailability of bill of lading at the discharge port is not the masters problem it is the problem of the buyer or seller of cargo however master should never release cargo without citing the original bill of lading and comparing with his own copy a letter of India minute II is not sufficient evidence to release come if more than one person is demanding delivery where each person is holding an original bill of lading what can you do well this may be due to more than one set of original bill of lading in circulation some of which are unauthorised under normal circumstances the carrier is within rights to release cargo to the first party that approaches him with the original bill of lading however if more than one party approaches Simon naked simultaneously then the master should seek assistance throughout the P&I Club and may discharge cargo into the custody of the port or the warehouse in the port where it will remain under the legal control of the master sometimes bills of lading are required to be signed clean ship stuff should ensure then that damaged cargo is not loaded for the bill of lading may be sign as per charter party or as well Shore quality any major differences will then result in a claim in this cases ship must consult the P and I club and large protest in these cases procedure for cargo release is that notify the receiver to have original bill of lading produced before discharge commences compare with ships coffee for verification and do not discharge till verification done if letter of indemnity is only produced then you should not discharge the cargo so cargo should be discharged only with the original copy of bill of lading if there are more than two copies then it should it can be released but it will be under the custody of the port or the warehouse but under the legal control of the master so I hope this was a short enough video good enough for you to understand what our bills of lading the functions the types difference of bills of lading with maestra seed and vapours what precautions to be taken when signing of bills of lading and what card could be some of the problems with bills of lading so let me know what you thought about this video and I'll see you soon with my next video by this