Create Your Credit Bill Format for Shipping Effortlessly

Credit bill format for Shipping

hi everyone in this video I'll be talking about what is a bill of lading what are the types of bill of lading and I will be also showing you samples of bill of lading firstly we will be looking at how a bill of lading works in international trade in this diagram we have the seller on the left and the buyer on the right both parties have entered into a sales and purchase contract for the sale and purchase of goods I have addressed the different methods of payment in international trade in a previous video in this channel the link to the video is down in the description box below once the contract is signed depending on the method of payment used the seller ships out the goods via the shipping agent [Music] the shipping agent will then issue two sets of documents this the original negotiable bill of ladings and non negotiable Bill of Lading non negotiable bill of lading is not signed whilst the original bill of lading is signed here's a sample of the negotiable Bill of Lading and the non negotiable Bill of Lading so what is a Bill of Lading ing to 1907 House buri laws of England a bill of lading is a document signed by the ship owner or by the master or other agent of the ship owner which takes a certain specified goods have been shipped in a particular ship which purports to set up the terms on which the goods have been - and received by the ship after the signature it is handed to the shipper who may either retain it or transfer it to the other person the seller forwards the shipping documents and bill of lading to the buyer the buyer forwarded the BL to the shipping agent which issues the delivery order to the port for the release of the goods the shipping agent handed the ghost over to the buyer next we will look at the function of the bill of lading the bill of lading acts as a receipt for goods the seller has passed on valuable goods to the shipping agent the bill of lading acts as a form of receipt that the shipping agent received the goods as you can see in this document over here this is the container of goods specified on the bill of lading the second function is the bill of lading is a evidence of contract of carriage the bill of lading is a contract between a shipper and the carrier it outlines the shipping method and terms for transporting the goods from origin to his destination as per the terms of a sales contract signed between the buyer and the seller as you can see in this bill of lading this particular red box highlighted is the evidence of contract of carriage from the part of loading in Port Klang to the port of destination in the felixstowe the bill of lading is also a document of title to the goods in order for the name consign II to take delivery of the goods he must surrender at least one original bill of lading to the shipping agent at the end important point to note is that when a bill of lading is issued it is issued normally in three original copies so why is that three original bills of lading copies is being issued this is because in those days the mailing system was not so reliable so they sent the first copy over and kept the two other copies in case the first original did not arrive as you can see in this example of a bill of lading this indicates that this bill of lading is the document of title to the goods by mentioning that one original bill of lading must be surrendered duly endorsed in exchange for the goods of delivery order so we talked about the three functions of a bill of lading receipt for goods contract of carriage and document of title to the goods so who are the parties involved in the bill of lading I would like you to pause here and download a sample copy of the bill of lading in the link in the description box below now one of the parties involved in the bill of lading is the carrier and as I said and as you can see a provider you assemble copy of a bill of lading which indicate the respective parties in the Bill of Lading another party is the shipper the shipper is the party that surrenders the goods to the shipping agent consigning the party that is supposed to receive the goods notify party now this is a party who receives notification of a shipments arrival and he was addressed appears on the shipping document named agent a licensed agent in a port who transects the ship's business such as insurance or documentation for the owner carrier master also known as the captain of the ship now we will look at to whom the bill of lading can be consigned to to order a shipper to order to order bank to order of importance to importer now let us look at the bill of lading in your LC transaction involving C transpose the UCP 600 outlines the following types of C transport the first is bill of lading pot to pot shipment article 20 of UCP 600 number to transport document covering at least two different modes of transport also known as multimodal transport under article 19 of UCP 600 the third is non-negotiable Seaway bill covered under article 21 of UCP 600 number for charter party bill of lading covered under article 22 of UCP 600 he now let us look at an old sample of what a sea transport document used to look like now let us look at an old sample of see transfer document as you can see in this slide under Bill of Lading which is also known as pot to pot shipment well when trade first started it used to be pot to pot shipment a single mode of transport that uses sea freight from the pot of loading to the part of destination in those days they used to call the Bill of Lading as marine Bill of Lading also known as ocean bill of lading whereby the carrier's responsibility begins at the part of loading and ends at the part of discharge now we look at this diagram goods are transported from a port in Southeast Asia to a port in India now let us look at a sample of a bill of lading now you can download this sample of a bill of lading in the link below as you can see in this bill of lading the PATA receipt and the part of destination is clearly specified multimodal transport shipment means combined motor transport including sea freight in and/or air freight transportation from the port of destination to the final place of delivery if we look at this diagram as time goes by and it's not just six develop the buyer wants the goods to be transported to an inland place by truck so the goods will have to be shipped from port to port [Music] and subsequently taken to the final destination by truck so this is how the terminology multimodal or combined transport came about as you can see in this slide over here I provided a sample of multimodal transport document which you can also download this sample in the link below the multimodal transport is identified in the red box whereby it states that the goods are shipped from Taiwan to Dubai by sea and then by air freight to Zurich so let us take a look at non-negotiable Seaway bill it's an unique document use in shipment whereby it is not a document of title of the goods in the case of a bill of lading in order for the consigning to get the goods it must surrender at least one original bill of lading only used in order to get the goods whereas a Seaway bill is not a document of title to the goods delivery under Assyria bill is a pawn identification and there is no need to present any original document as you can see on the right hand side this is a sample of a non negotiable Seaway bill and you can download this sample in the link below next we'll be looking at charter party bill of lading in a shipment of commodities for example palm oil the shipper would need to charter an entire tanker to ship out the goods the shipper would then enter into an agreement with a ship owner called the charter party the bill of lading issued under these circumstances is known as a charter party Bill of Lading as you can see on the right hand side I provided you with a sample of a charter party bill of lading now now you can download a sample of this charter party bill of lading in the description box in the link below in conclusion we've talked about what is a bill of lading the types of bill of lading and these samples of bill of lading please leave a comment in the comment box below which part of this video that you find valuable and what are the further questions you have on bills of lading remember click subscribe to this channel if you like to receive any further updates on videos on international trade