Bill of Lading
From Supply Chain Management Encyclopedia
| Line 14: | Line 14: | ||
an undertaking.” <ref> Article I (7) // United Nations Convention on The Carriage of Goods by Sea, concluded at Hamburg on 31st day of March, 1978 (commonly known as “Hamburg Rules”) - http://www.admiraltylawguide.com/conven/hamburgrules1978.html </ref> | an undertaking.” <ref> Article I (7) // United Nations Convention on The Carriage of Goods by Sea, concluded at Hamburg on 31st day of March, 1978 (commonly known as “Hamburg Rules”) - http://www.admiraltylawguide.com/conven/hamburgrules1978.html </ref> | ||
| - | Usually on the completion of the shipment of the cargo or on receipt of the latter the carrier <ref> Carrier includes the owner or the charterer who enters into a contract of carriage with a shipper. Shipper is a person who pursuant to a contract of sale causes the goods to be loaded on board ship: Article I (a) of the International Convention for the Unification of Certain Rules of Law Relating to Bills of Lading, Brussels, August 25, 1924, (The Hague Rules) </ref> or charterer <ref> “Charterer” is one who by virtue of a charterparty hires the entire ship or the principle part of it </ref> of the vessel, on the demand of the shipper or otherwise, issue a bill of lading stating, inter alia<ref> Article III (3) of The Hague Rules; Article 15 of the Hamburg Rules. </ref>, | + | Usually on the completion of the shipment of the cargo or on receipt of the latter the carrier <ref> Carrier includes the owner or the charterer who enters into a contract of carriage with a shipper. Shipper is a person who pursuant to a contract of sale causes the goods to be loaded on board ship: Article I (a) of the International Convention for the Unification of Certain Rules of Law Relating to Bills of Lading, Brussels, August 25, 1924, (The Hague Rules) </ref> or charterer <ref> “Charterer” is one who by virtue of a charterparty hires the entire ship or the principle part of it </ref> of the vessel, on the demand of the shipper or otherwise, issue a bill of lading stating, inter alia<ref> Article III (3) of The Hague Rules; Article 15 of the Hamburg Rules. </ref>, |
| + | |||
(a) a short description of the cargo loaded on board the vessel, | (a) a short description of the cargo loaded on board the vessel, | ||
| + | |||
(b) the name and principal place of business of the carrier, | (b) the name and principal place of business of the carrier, | ||
(c) the name of the shipper, | (c) the name of the shipper, | ||
Revision as of 13:41, 21 September 2012
Russian: Коносамент
Contents |
Main Provisions
The bill of lading (B/L) which certifies that the specified goods have been received in apparent good order and condition from the named shipper (consignor), and have been taken aboard the named ship (vessel) on the stated date. This document is not a receipt for cargo received on board only but is an evidence of the contract between shipper and shipowner. It is also evidence of title to the goods described on it. Establishes the terms of a contract between a shipper and a transportation company under which freight is to be moved between specified points for a specified charge. Usually prepared by the shipper on forms issued by the carrier, it serves as a document of title, a contract of carriage, and a receipt for goods. Banks funding a shipment require this type of B/L and not a received for shipment bill of lading. Also, depending on terms and conditions as well as setting, called Air Waybill, Inland Bill of Lading, Ocean Bill of Lading, and Through Bill of Lading, and Shipped On Board Bill of Lading.
Meaning and nature of Bill of Lading [1]
Bill of lading (B/L) is usually a document issued pursuant to a contract of carriage of goods by sea. This document is a versatile document recording the receipt of goods which also provides evidence of the contract of carriage and may also serve as a document of title to the goods it represents[2]. A bill of lading means and includes “a document which evidences a contract of carriage by sea and the taking over or loading of the goods by the carrier, and by which the carrier undertakes to deliver the goods against surrender of the document. A provision in the document that the goods are to be delivered to the order of a named person, or to order, or to bearer, constitutes such an undertaking.” [3]
Usually on the completion of the shipment of the cargo or on receipt of the latter the carrier [4] or charterer [5] of the vessel, on the demand of the shipper or otherwise, issue a bill of lading stating, inter alia[6],
(a) a short description of the cargo loaded on board the vessel,
(b) the name and principal place of business of the carrier, (c) the name of the shipper, (d)the consignee if named by the shipper, (e) the port of loading under the contract of carriage by sea and the date on which the goods were taken over by the carrier at the port of loading, (f) the port of discharge under the contract of carriage by sea, (g) the number of originals of the bill of lading, if more than one, (h) the place of issuance of the bill of lading, (i) the signature of the carrier or a person acting on his behalf, (j) the freight to the extent payable by the consignee or other indication that freight is payable by him etc.
Generally the reverse side of the B/L contains standard terms on which the carriage contract is agreed to be performed and such terms, in case of disputes, form the basis of any claim and adjudication, provided that these terms are neither nullified by any statute nor these are oppose to public policy under any legal system where the dispute ought to be tried. The aforesaid features of the B/L is marginalized by its third and final character. The greater importance of the bill of lading in the modern time lies in the facts of its being a document of title of the goods its represents. Whoever lawfully holds a bill shall have the proprietary interest and constructive possession over the goods while these are in transit. It carries with it not only the full ownership of the goods, but also all rights created by the contract of carriage between the shipper and the shipowner[7].
A Form of Bill of Lading [8]
References
- ↑ Razzak, M.A. Bill of Lading: A Pivotal Document in International Sale Transactions - http://www.ewubd.edu/ewu/showDocument.php?documentid=165&id=2268&dc=
- ↑ Bridge, M. : The International Sale of Goods - Law and Practice, Oxford University Press, (1999) – Ch.13.
- ↑ Article I (7) // United Nations Convention on The Carriage of Goods by Sea, concluded at Hamburg on 31st day of March, 1978 (commonly known as “Hamburg Rules”) - http://www.admiraltylawguide.com/conven/hamburgrules1978.html
- ↑ Carrier includes the owner or the charterer who enters into a contract of carriage with a shipper. Shipper is a person who pursuant to a contract of sale causes the goods to be loaded on board ship: Article I (a) of the International Convention for the Unification of Certain Rules of Law Relating to Bills of Lading, Brussels, August 25, 1924, (The Hague Rules)
- ↑ “Charterer” is one who by virtue of a charterparty hires the entire ship or the principle part of it
- ↑ Article III (3) of The Hague Rules; Article 15 of the Hamburg Rules.
- ↑ ibid.
- ↑ Коносамент - http://blanker.ru/doc/bill-of-lading
