Types of Bill of Lading
Types of Bill Of Lading
There are two types of Bill of Lading (B/L) on the basis of Receipt of cargo:- 1. Shipped on Board B/L: Cargo is on board the vessel, It confirms the buyer that cargo is actually shipped. 2. Received for Shipment B/L: Shipping Company confirms having received the goods for shipment by the vessel mentioned therein. When the goods later loaded on the vessel, a supplementary clause may be inserted in B/L, if it’s not already negotiated: “Actual shipped on Board” – On (Date) and is signed by Shipping agent or Shipping Company
Type of Bill of Lading on the Basis of Trade Parties Involved 1. House Bill of Lading: Issued by Freight Forwarder or Agent having MTO License from DGFT, Ministry of Shipping. 2. Master Bill of Lading: Issued by Shipping or Agent having MTO (Ministry of Transportation) License from DGFT (Director General of Foreign Trade), Ministry of Shipping.
Types of Bill of Lading on the basis of Voyage 1. Direct B/L: It covers transportation on one and same vessel from POL to POD i.e., shipment on vessels offering direct calls from port to port. 2. Through B/L: It covers transportation with transshipment, Inland transportation involved at origin port or destination or at both the sides. Throughput B/L usually show “transshipment at carriers’ expense but at consignee’s risk”
Types of bills of lading on the basis of beneficiaries: - 1. Bill of Lading “To Order”: B/L is drawn on order of the shipper, the consignee or bank can be endorsed in favor of another person who may be the final receiver or an intermediate beneficiary. Commonly used in commercial transaction 2. Bill of Lading “To Bearer”: Bearer of bill of lading can obtain delivery of goods. There is no endorsement of bank or Consignee is required on the same.
Types of Bill of Lading on the basis of reservation by the carrier 1. Clean Bill of Lading: If there is no clause or comment by the carrier in the bill of lading than it shall be
There are two types of Bill of Lading (B/L) on the basis of Receipt of cargo:- 1. Shipped on Board B/L: Cargo is on board the vessel, It confirms the buyer that cargo is actually shipped. 2. Received for Shipment B/L: Shipping Company confirms having received the goods for shipment by the vessel mentioned therein. When the goods later loaded on the vessel, a supplementary clause may be inserted in B/L, if it’s not already negotiated: “Actual shipped on Board” – On (Date) and is signed by Shipping agent or Shipping Company
Type of Bill of Lading on the Basis of Trade Parties Involved 1. House Bill of Lading: Issued by Freight Forwarder or Agent having MTO License from DGFT, Ministry of Shipping. 2. Master Bill of Lading: Issued by Shipping or Agent having MTO (Ministry of Transportation) License from DGFT (Director General of Foreign Trade), Ministry of Shipping.
Types of Bill of Lading on the basis of Voyage 1. Direct B/L: It covers transportation on one and same vessel from POL to POD i.e., shipment on vessels offering direct calls from port to port. 2. Through B/L: It covers transportation with transshipment, Inland transportation involved at origin port or destination or at both the sides. Throughput B/L usually show “transshipment at carriers’ expense but at consignee’s risk”
Types of bills of lading on the basis of beneficiaries: - 1. Bill of Lading “To Order”: B/L is drawn on order of the shipper, the consignee or bank can be endorsed in favor of another person who may be the final receiver or an intermediate beneficiary. Commonly used in commercial transaction 2. Bill of Lading “To Bearer”: Bearer of bill of lading can obtain delivery of goods. There is no endorsement of bank or Consignee is required on the same.
Types of Bill of Lading on the basis of reservation by the carrier 1. Clean Bill of Lading: If there is no clause or comment by the carrier in the bill of lading than it shall be