Bill Of Lading Hide Cross For Free

Reasons to issue a switch Bill of Lading The reasons for requiring a switch B/L include:The seller does not want the buyer to know the actual country of origin of the cargo. The original B/L may be held up in the country of shipment, or the ship may arrive at the discharge port prior to the original B/Ls.

A seaway bill is a receipt of goods issued by the ocean carrier to the customer (also called the consignor or shipper).It is this non-negotiable nature of the bill that sets it apart from the regular bill of lading.

Now to avoid this INDIAN exporter import goods from china but does not file bill of entry for imports in India., he contacts shipping line for Switch B/L so now shipper & consignee is changed and now USA party becomes importer and INDIAN party becomes exporter (in new bill of lading).

It is another set of bills of lading issued by the shipping company, which replaces the first set of originals that was issued by it at the time of shipment. A switch bill of lading can be issued anytime once the cargo has left its port of origin, but before it is handed over to the original receiver.

Therefore, if you have issued a negotiable bill of lading and the shippers request you to amend the name of the consignee and/or the place of delivery, they must return all the original documents to you, free of endorsement, before you agree to make any change.

A bill of lading must be transferable, and serves three main functions: it is a conclusive receipt, i.e. an acknowledgement that the goods have been loaded; and. it contains or evidences the terms of the contract of carriage; and. it serves as a document of title to the goods, subject to the nemo dat rule.

Typically three bills are issuedone for the shipper, one for the consignee, and one for the banker, broker, or third party.Because the bill of lading is a document of title, it is valuable.