0 1
Bill of leading
Post 1 of 12
my name is aditya plese answer
offline
No Company Website yet
Overall Ranking MVP:143 Rank:2,619
at what time B/L is transfered to exporter by shipping company or agent, and what exporter do after getting it.
Award 10 MVPs ( What's this? )for the best answer.
18 Dec 2007 10:43
Post 2 of 12
Yangtse
offline
No Company Website yet
Overall Ranking MVP:114 Rank:4,933
Replying to [my name is aditya plese answer]:After all freight rate (under CIF),and other relevant cost be paid such as docs fee,OTHC,the custom declare clearance fee, the steamship company or the forward will release b/l to exporter. Then the exporter will convey it to client or bank according to payment of contract.
18 Dec 2007 21:27
Post 3 of 12
Replying to [my name is aditya plese answer]: i agree with the idea of Yangtse. the shipping company or his agent will issue the B/L to the exporter after the exporter pays the freight and all the incurred costs required. After getting it, the exporter must give the full sets of B/L to the importer, as well as other documents required for the importer to enable them to receive the goods as soon as possible.
But if you think it takes a long time to transfered the B/L and the delay will make the importer not receive the goods in time, you should surrender the B/Ls. And this is the common way in order to enable the importer to receive the goods conveniently.
Or you can require the shipping company or his agent issue Seaway Bill of lading, so you can transfered the waybill to the buyer by fax, and the buyer can easily receive the goods in time.
19 Dec 2007 23:55
Post 4 of 12
Yangtse
offline
No Company Website yet
Overall Ranking MVP:114 Rank:4,933
Replying to [my name is aditya plese answer]:[em17]
20 Dec 2007 16:31
Post 5 of 12
Replying to [my name is aditya plese answer]:
The source is Wekipedia the free encyclopeadia
A bill of lading (also referred to as a BOL or B/L) is a document issued by a carrier, e.g. a ship's master or by a company's shipping department, 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 through bill of lading involves the use of at least two different modes of transport from road, rail, air, and sea. The term derives from the noun "bill", a schedule of costs for services supplied or to be supplied, and from the verb "to lade" which means to load a cargo onto a ship or other form of transport.

Straight bill of lading

This bill states that the goods are consigned to a specified person and it is not negotiable free from existing equities, i.e. any endorsee acquires no better rights than those held by the endorsor. So, for example, if the carrier or another holds a lien over the goods as security for unpaid debts, the endorsee is bound by the lien although, if the endorsor wrongfully failed to disclose the charge, the endorsee will have a right to claim damages for failing to transfer an unencumbered title.

Also known as a non-negotiable bill of lading

Order bill of lading

This bill uses express words to make the bill negotiable, e.g. it states that delivery is to be made to the further order of the consignee using words such as "delivery to A Ltd. or to order or assigns". Consequently, it can be endorsed by A Ltd. or the right to take delivery can be transferred by physical delivery of the bill accompanied by adequate evidence of A Ltd.'s intention to transfer.

Also known as a negotiable bill of lading.

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.
21 Dec 2007 07:35
Post 6 of 12
Replying to [my name is aditya plese answer]: Hi Aditya...

For your information you can get two types of B/L from your freight forwarder.

RFS B/L (Received For Shipment) : When you handover the goods to your freight forwarder he will raise a received for shipment B/L which is house B/L means prepared by the freight forwarder. This B/L has stamp mentioning received for shipment.

You can receive this type of B/L in 48 working hours from the time of handing over the goods to your freight forwarder.

RFS B/L does not means that the goods are loaded on the vessel or they are on the way to destination country. It only means that they are handed over for overseas shipment.


SOB B/L ( Shipped on Board) : This type of B/L can be issued by your freight forwarder (house B/L) or Shipping Line.

This B/L has stamp mentioning shipped on board.

You can receive this type of B/L within 48 working hours from the date when the vessel leaves the loading port.
22 Dec 2007 01:21
Post 7 of 12
my name is aditya plese answer
offline
No Company Website yet
Overall Ranking MVP:143 Rank:2,619
Replying to [my name is aditya plese answer]:
thenk yu for replying me

but may i know is there any difference between RFS B/L and SOB B/L.

i fplease reply

thanks

regards

aditya[em17][em19]
22 Dec 2007 05:44
Post 8 of 12
Replying to [my name is aditya plese answer]:i think you have misunderstood the RFS and SOB B/L.
+ Received for shipment bill of lading is issued before containers are shipped on board. This B/L is not accepted in payment by the bank unless there is a note in L/C that the received for shipment bill of lading is acceptable).
after shipping full containers on board, the carrier will note on B/L "containers shipped on board on..." and sign in consideration of it. From then on, the RFS B/L become shipped on board B/L. and it is accepted in payment by the issue bank.
+ the goods can be carried by an effective carrier ( i.e the shipping company) or a non vessel operating common carrier (NVOCC)
the shipping company as the consolidator will issue master B/L
the NVOCC that doesnt have his own vessel must charter the vessel to carry the shipments packed in containers.The B/L issued by them is called House B/L
the relation between the NVOCC and the shipping company is the one between the charterer and the ship owner. The effective carrier ships containers on board and issue Master B/L to the NVOCC, and delivers the goods to the NVOCC'S agent at the destination.
22 Dec 2007 10:12
Post 9 of 12
Replying to [my name is aditya plese answer]:

Pl note that 'Received for Shipment' B/Ls are not good enough for the banks if the shipper wants to negotiate documents against LCs. 'On Board' notification on the face of the BL would then be required. This point has also been clarified just above.
22 Dec 2007 19:16
Post 10 of 12
Replying to [my name is aditya plese answer]: Dear Sir (Catalyst), thanks for adding the crucial point about RFS as I forgot to mention..

Thanks once again.

Warm Regards,
Sameer
24 Dec 2007 00:17
Post 11 of 12
Replying to [my name is aditya plese answer]:

RECEIVED FOR SHIPMENT BILL OF LADING,
A bill of lading acknowledging the receipt of goods by a carrier for shipment on a specified vessel. This type of bill of lading is not acceptable under a letter of credit unless it is specially authorized. English law does not regard these bills as a valid tender under CIF contracts because the CIF seller is obligated to ship the goods, and a Received for Shipment Bill of Lading is not considered proof of shipment.

Reference: http://www.port-of-charleston.com/online_tools/glossary.asp?first_letter=B
24 Dec 2007 00:22
Email this page Bookmark this page