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[Music] hello everyone and welcome to this video about the bill of lading its importance and the different types the bill of lading is one of the most important documents in the shipping process so it's important that you understand what it is why it's so important and the different types of bills of lading what is a bill of lading a bill of lading or bull is a document issued by a carrier to acknowledge receipt of cargo for shipment it is a legally binding document and serves as proof of the shipment of cargo and its delivery why is the bill of lading important the bill of lading is an important document for a number of reasons it serves as a receipt of the shipment as well as proof of ownership of the cargo it is also a contract between the shipper and the carrier and outlines the terms of the shipment it also serves as a way for Customs to track the cargo and any applicable taxes types of bills of lading there are several different types of bills of lading depending on the type of shipment straight bill of lading this is the most common type of bill of lading and is used for shipments that will go directly to the consignee or end user order bill of lading this type of bill of lading is used when the cargo is being shipped to a third party or intermediary this type of bill of lading is often used in the purchase of goods as it allows the buyer to take possession of the goods before payment is made negotiable bill of lading this type of bill of lading is used when the goods are being shipped to the buyer but payment is not yet due this type of bill of lading allows the buyer to take possession of the goods without payment up front through bill of lading this type of bill of lading is used when the goods are being shipped through more than one carrier it is used when the goods are being shipped from one country to another and will be transferred from one carrier to another before reaching its final destination clean bill of Lady a clean bill of lading is a document issued by a carrier such as a shipping line or trucking company to a shipper that acknowledges receipt of the goods being shipped and serves as a document of title for the goods a clean bill of lading bull means that the carrier has received the goods in good condition and with no visible damage it is an important document used in international trade since it serves as proof of delivery and provides the shipper with legal protection in the event of a dispute with the buyer received for shipment bill of lading a receipt for shipment bill of lading is a document issued by a carrier to a shipper confirming the receipt of goods for shipment it is a legally binding document that serves as evidence of the contract of carriage between the shipper and the carrier it also indicates the point of origin and destination of the goods and the terms of the agreement between the two parties the document is usually signed by both parties and serves as evidence of the contract of carriage between them claused bill of lading a closed bill of lading is a document issued by a carrier to a shipper that acknowledges the receipt of goods for transportation it details the terms and conditions of the shipment and serves as a title document for the goods a closed bill of lading is issued when the goods have been damaged or are not in the same condition as when they were received by the carrier this document may also be referred to as a dirty bill of lading or foul bill of lading container bill of lading a container bill of lading CBL is a document that serves as a receipt for cargo shipped via container it is issued by an ocean carrier and is used to track the shipment of goods it includes details such as the shipper and consonine the port of origin and destination the container number the number of packages in their description the the gross and net weight of the cargo and the freight and other charges it also serves as a contract of carriage between the shipper and the carrier house bill of lading a house bill of lading HBL is a document issued by an international Freight forwarder or a non-vessel operating common carrier nvocc to the shipper it is a document of title providing evidence of the contract of carriage and serves as a receipt for goods it also shows who is responsible for the goods where the goods are coming from where they are going and who is designated to receive them the HBL is required for Customs clearance and serves as a document of title for the goods Master Bill of Lady a master bill of lading is the document used to identify Goods that are shipped by sea from one port to another it is issued by the vessel's captain or the shipping line and is the official receipt for goods loaded onto the vessel the master bill of lading also serves as a contract between the shipper and the carrier detailing the terms of delivery and the goods being carried the document is typically used by Customs authorities to properly identify Goods that are being imported or exported Charter party bill of lading a charter party bill of lading is a document issued by a charter party operator to the shipper of goods it is a contract between the shipper and the charterer and is used to record the details of the goods being shipped in the terms of the charter the bill of lading also serves as proof of delivery for the goods this document is legally binding and is used to protect both parties in the event of a dispute stale bill of lading a stale bill of lading is a shipping document that has been issued with an expired date it is issued by a carrier to acknowledge the receipt of goods for shipment the bill of lading is intended as a contract between the shipper and carrier and is used as a proof of title to the goods a stale bill of lading can be used to ship goods but the carrier may not accept it as a valid document short-term blank-backed bill of lading a short-term blank-backed bill of lading is a document issued by a carrier to a shipper which acts as a receipt for goods shipped acknowledges the contract of carriage and serves as evidence of title this type of bill of lading does not contain the same information as a straight bill of lading such as the consignee or delivery instructions it is usually used when goods are sent on an open account basis with payment due upon delivery the bill of lading serves as the document of title when goods are sold in transit and must be presented by the buyer to the carrier in order to receive possession of the goods Bearer bill of lading a bearer bill of lading is a type of bill of lading that is made out to the bearer of the document this means that whoever is in possession of the document is considered to be the legal owner of the goods it is often used in situations where goods are being sold or transferred without a contract or other form of legal documentation this type of bill of lading is considered to be a very high risk document and should be handled with caution surrender bill of lading a surrender bill of lading is a document issued by a carrier to a shipper that states that the carrier has delivered the goods to the specified person or company and that the carrier relinquishes all claims to the goods it is typically used in cases where Goods have been shipped but the shipper needs to change the point of delivery the surrender bill of lading is usually requested by the new receiver of the goods who will then present it to the carrier to prove that they are the rightful owner of the goods in sbol a Telex release is issued a Telex release is in essence an electronic message transmitted from an agent or shipping line at the Port of loading pull to the agent at the Port of discharge pod this message signifies that the shipper has surrendered the original bill of lading obl switch bill of lading a switch bill of lading is a document issued by a carrier or its carrier agent to replace an original bill of lading it substitutes the information of the shipper and consignee listed on the original bill of lading usually when a trading company or seller does not want the buyer to know the country of origin and Factory from which the cargo was originally shipped in conclusion the bill of lading is an important document in the shipping process it serves as proof of the shipment and outlines the terms of the shipment it also serves as proof of ownership and a way for Customs to track the cargo and any applicable taxes there are several different types of bills of lading depending on the type of shipment I hope this video has been helpful in understanding the bill of lading its importance and the different types I hope this video gives you an in-depth understanding of what a bill of lading is its types and the importance it holds please like And subscribe my YouTube channel for more shipping related videos foreign