Bill Of Lading Hide Value Choice For Free

The two-fold character of a bill of lading is all too familiar: it is a receipt as to the quantity and description of the goods shipped and a contract to transport the goods to the consignee or other person therein designated, on the terms specified in such instrument.

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. For security purposes, it is advisable to only request as many bills of lading as you actually need.

Only the carrier or freight forwarder are allowed to sign a bill of lading. Once switch bills are approved and before releasing them, the initial bill of lading must be out of circulation so that there is only one set of documents in force.

The bill of lading (BOL) works as a receipt of freight services, a contract between a freight carrier and shipper and a document of title. The bill of lading is a legally binding document providing the driver and the carrier all the details needed to process the freight shipment and invoice it correctly.

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).

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.

Any details other than the above must remain the same as per initial bill of lading. Therefore, port of loading (POL), port of discharge (POD) or weight/number of packages cannot be changed. It is extremely important that the issuing date is the same in both bills of lading. Who can request to switch bills?