The Bill of Lading, a Fundamental Piece in the Jigsaw That Is Export Trade

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Staffordshire University Law School

Gary Gueye

The Bill of Lading is a fundamental piece in the jigsaw that is export trade

Introduction I. Different types of the Bill of Lading a) Straight Bill of Lading b) Order Bill of Lading c) Bearer Bill of Lading d) Switch Bill of Lading

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II. Functions of the Bill of Lading a) Bill of Lading as a receipt b) Bill of Lading as a document of title c) Bill of Lading as an evidence of a contract of carriage d) Bill of Lading as a contract of carriage

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III. Disadvantages of the Bill of Lading a) Delayed arrival b) High cost c) Fraudulent issuance of the Bill of Lading d) Inaccurate or insufficient information Conclusion References

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Export & International Trade Law

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Dennis Crighton

Staffordshire University Law School

Gary Gueye

Introduction

The term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an exporter who is based in the country of export whereas the overseas based buyer is referred to as an importer. In International Trade, exports refer to selling goods and services produced in home country to other markets.

Any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. Export goods or services are provided to foreign consumers by domestic producers. Export of commercial quantities of goods normally requires involvement of the customs authorities in both the country of export and the country of import.

Into the export trade, a document has an important place: the Bill of Lading. Indeed, A bill of lading is a document issued by a carrier to a shipper, acknowledging that specified goods have been received on board as cargo for conveyance to a named place for delivery to the consignee who is usually identified. A bill of lading can be used as a traded object. The standard short form bill of lading is evidence of the contract of carriage of goods and it serves a number of purposes.

Therefore, the Bill of Lading is a fundamental piece in the jigsaw that is export trade. Throughout this assignment, we will critically examine this document, its function and the role it plays in export trade.

Export & International Trade Law

2

Dennis Crighton

Staffordshire University Law School

Gary Gueye

Different types of the Bill of Lading
a) Straight Bill of Lading
A Straight bill of lading is a bill of lading that is not transferable by either delivery or endorsement and delivery. It specifies the name of the consignee.

b) Order Bill of Lading
An order bill of lading is a document that is made out to the order of the foreign importer or its bank, or the order of the export firm, its bank, or another designated party. Title to goods being shipped is given by possession of the bill of lading that bears the exporter's endorsement. Often, this endorsement is in blank, thus giving ownership of the goods to the person possessing the bill, and therefore making the bill highly negotiable.

c) Bearer Bill of Lading
This bill states that delivery shall be made to whosoever holds the bill. Such bill may be created explicitly or it is an order bill that fails to nominate the consignee whether in its original form or through an endorsement in blank. A bearer bill can be negotiated by physical delivery.

d) Switch Bill of Lading

A Switch bill of lading is a replacement bill of lading issued at the request of a consignee seller to replace the original bill of lading issued to that seller's supplier as shipper, so as to show the consignee seller as shipper and its own sub-purchaser as consignee. Such bills of lading are intended to keep the identity of the supplier from the sub-purchaser and thus to prevent future direct dealings between the supplier and the sub-purchaser.

Export & International Trade Law

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