• Contact Us
  • About
  • Privacy Policy
  • Terms and Conditions
Thursday, March 16, 2023
  • Login
No Result
View All Result
NEWSLETTER
BharatPortals.in
  • Contact Us
  • Home
  • Schemes
    • Uttar Pradesh
    • New Delhi
    • Andhra Pradesh
    • Madhya Pradesh
    • Tamil Nadu
    • West Bengal
    • Telangana
    • Karnataka
    • Rajasthan
    • Bihar
    • Jharkhand
    • Haryana
    • Maharashtra
    • Gujarat
  • Scholarship
    • PFMS Scholarship 2020- New Registration, Payment Status Check
    • UP Scholarship – यूपी स्कॉलरशिप स्टेटस 2019-20, स्कॉलरशिप अपडेट,
    • Jnanabhumi Portal – AP Post/Pre Metric Scholarship Status Online Check
    • Digital Gujarat – Online Registration, Digital Gujarat Scholarships, etc
    • National Scholarship Portal NSP 2020: New Registration | Sanctioned List
  • About Us
    • Disclaimer
    • Privacy Policy
  • Contact Us
  • Home
  • Schemes
    • Uttar Pradesh
    • New Delhi
    • Andhra Pradesh
    • Madhya Pradesh
    • Tamil Nadu
    • West Bengal
    • Telangana
    • Karnataka
    • Rajasthan
    • Bihar
    • Jharkhand
    • Haryana
    • Maharashtra
    • Gujarat
  • Scholarship
    • PFMS Scholarship 2020- New Registration, Payment Status Check
    • UP Scholarship – यूपी स्कॉलरशिप स्टेटस 2019-20, स्कॉलरशिप अपडेट,
    • Jnanabhumi Portal – AP Post/Pre Metric Scholarship Status Online Check
    • Digital Gujarat – Online Registration, Digital Gujarat Scholarships, etc
    • National Scholarship Portal NSP 2020: New Registration | Sanctioned List
  • About Us
    • Disclaimer
    • Privacy Policy
No Result
View All Result
BharatPortals.in
No Result
View All Result
Home Business

Bill Of Lading: Explained in detail

by varsha
March 16, 2023
in Business
0
Bill of Lading
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Any import and export business can only flourish if one has a proper understanding of the documentation involved. Understanding the various types of documentation and which one is best for which situation is important for e-commerce exporters that are planning to tap international consumers for their products. Bill of Lading is one such critical document that needs to be properly understood so that business can grow sustainably.

Table of Contents

    • What is a Bill of Lading?
    • Contents of Bill of Lading
    • Various types of Bills of Lading
      • Based on carrier
      • Based on transportation
    • What happens if the Bill of Lading has incorrect information?
    • Opt for e-commerce exports
  • Bill Of Lading: Explained in detail
    • What is a Bill of Lading?
    • Contents of Bill of Lading
    • Various types of Bills of Lading
      • Based on carrier
      • Based on transportation
    • What happens if the Bill of Lading has incorrect information?
    • Opt for e-commerce exports

What is a Bill of Lading?

A Bill of Lading is a legal document that is proof of shipment when an exporter sends the cargo overseas. It acts as an ‘evidence of contract’ between the carrier and the shipper. In other words, a Bill of Lading is proof that there is an agreement between the two parties.

A Bill of Lading also works well as a receipt for the carrier to be handed over to the receiver of the goods. It is proof that the goods have been loaded for shipment.

A Bill of Lading is also used for verifying the list of goods that was sent by the exporter. An importer can use the Bill of Lading to verify the goods received at the end of the shipment.

Contents of Bill of Lading

The contents of a Bill of Lading can vary as per the type of contract between the buyer and the seller. It is also affected by the terms of the buyer and seller. A few details that remain consistent in a Bill of Lading are as follows:

·   Carrier details

·   Date and shipping bill number

·   Necessary certifications for hazardous products, if any

·   Details of the exporter

·   Details of the importer

·   Purchase order number to check terms and conditions

·   Consignment details

·   Freight classification

·   Signature of the concerned official

The signatory must ensure that all details in a Bill of Lading are clear and nothing is left to interpretation.  At the same time, terms and conditions must be checked thoroughly before signing the document.

Various types of Bills of Lading

There are various types of Bill of Lading which is applicable as per the party involved. The types of Bill of Lading can be explained as follows:

See also  Is Trading In XLM - Overview From KuCoin A Smart Move?

Based on carrier

House Bill of Lading

This is a simple form of a Bill of Lading where the seller and buyer of goods are the end party. For instance, a buyer from the UK buys glasses from a seller in India. The rest of the details in the Bill of Lading will remain the same.

Master Bill of Lading

This Bill of Lading is issued by the carrier of goods where the consignor is acting as the agent of the seller while the consignee is the agent of the buyer.

 Based on payment and consignee

Straight Bill of Lading

This is a type of Bill of Lading where the buyer has already paid for the shipment in advance. In such a scenario, the buyer will receive the consignment directly.

Order Bill of Lading

Under this type of BOL, a buyer can nominate a third party to receive goods on his behalf.

Bearer Bill of Lading

This BOL allows for the delivery of goods only to the party who holds the BOL at the time of delivery. In other words, the consignee is the bearer.

Clean Bill of Lading

The carrier is expected to inspect the condition of the goods and certify that the goods were received without any damage by issuing a Clean Bill of Lading.

Based on transportation

Inland Bill of Lading

It is a BOL used for domestic shipments

Ocean Bill of Lading

It is a BOL that is used for international shipments

Through Bill of Lading

It is a BOL that is used in cases where goods travel through several types of transportation.

Multimodal Bill of Lading

It is a type of BOL that is used when goods move using over 2 types of transport.

What happens if the Bill of Lading has incorrect information?

If the Bill of Lading does not have the correct information as per the shipment, the shipment of goods will likely be impacted. At the same time, the receiver can also claim the shipment to be incomplete or faulty. In such a scenario, an exporter may have to compensate the importer. An exporter can also lose indemnity insurance and protection of goods. There is a possibility of criminal prosecution against the exporter.

Therefore, it is better to seek expert guidance at the time of filling out the Bill of Lading. It can be an expert or a freight forwarder that can help a business deal with the Bill of Lading with ease.

Opt for e-commerce exports

Building an export business has been simplified with the launch of Amazon Global Selling. As it provides access to over 18 international marketplaces with over 300 million customers, a business can reach international skies with e-commerce exports in no time.

See also  How to Earn in the Share Market

Bill Of Lading: Explained in detail

Any import and export business can only flourish if one has a proper understanding of the documentation involved. Understanding the various types of documentation and which one is best for which situation is important for e-commerce exporters that are planning to tap international consumers for their products. Bill of Lading is one such critical document that needs to be properly understood so that business can grow sustainably.

What is a Bill of Lading?

A Bill of Lading is a legal document that is proof of shipment when an exporter sends the cargo overseas. It acts as an ‘evidence of contract’ between the carrier and the shipper. In other words, a Bill of Lading is proof that there is an agreement between the two parties.

A Bill of Lading also works well as a receipt for the carrier to be handed over to the receiver of the goods. It is proof that the goods have been loaded for shipment.

A Bill of Lading is also used for verifying the list of goods that was sent by the exporter. An importer can use the Bill of Lading to verify the goods received at the end of the shipment.

Contents of Bill of Lading

The contents of a Bill of Lading can vary as per the type of contract between the buyer and the seller. It is also affected by the terms of the buyer and seller. A few details that remain consistent in a Bill of Lading are as follows:

·   Carrier details

·   Date and shipping bill number

·   Necessary certifications for hazardous products, if any

·   Details of the exporter

·   Details of the importer

·   Purchase order number to check terms and conditions

·   Consignment details

·   Freight classification

·   Signature of the concerned official

The signatory must ensure that all details in a Bill of Lading are clear and nothing is left to interpretation.  At the same time, terms and conditions must be checked thoroughly before signing the document.

Various types of Bills of Lading

There are various types of Bill of Lading which is applicable as per the party involved. The types of Bill of Lading can be explained as follows:

Based on carrier

House Bill of Lading

This is a simple form of a Bill of Lading where the seller and buyer of goods are the end party. For instance, a buyer from the UK buys glasses from a seller in India. The rest of the details in the Bill of Lading will remain the same.

See also  Vertical Farming Market Size, Analysis By Segmentation And Geography Overview

Master Bill of Lading

This Bill of Lading is issued by the carrier of goods where the consignor is acting as the agent of the seller while the consignee is the agent of the buyer.

 Based on payment and consignee

Straight Bill of Lading

This is a type of Bill of Lading where the buyer has already paid for the shipment in advance. In such a scenario, the buyer will receive the consignment directly.

Order Bill of Lading

Under this type of BOL, a buyer can nominate a third party to receive goods on his behalf.

Bearer Bill of Lading

This BOL allows for the delivery of goods only to the party who holds the BOL at the time of delivery. In other words, the consignee is the bearer.

Clean Bill of Lading

The carrier is expected to inspect the condition of the goods and certify that the goods were received without any damage by issuing a Clean Bill of Lading.

Based on transportation

Inland Bill of Lading

It is a BOL used for domestic shipments

Ocean Bill of Lading

It is a BOL that is used for international shipments

Through Bill of Lading

It is a BOL that is used in cases where goods travel through several types of transportation.

Multimodal Bill of Lading

It is a type of BOL that is used when goods move using over 2 types of transport.

What happens if the Bill of Lading has incorrect information?

If the Bill of Lading does not have the correct information as per the shipment, the shipment of goods will likely be impacted. At the same time, the receiver can also claim the shipment to be incomplete or faulty. In such a scenario, an exporter may have to compensate the importer. An exporter can also lose indemnity insurance and protection of goods. There is a possibility of criminal prosecution against the exporter.

Therefore, it is better to seek expert guidance at the time of filling out the Bill of Lading. It can be an expert or a freight forwarder that can help a business deal with the Bill of Lading with ease.

Opt for e-commerce exports

Building an export business has been simplified with the launch of Amazon Global Selling. As it provides access to over 18 international marketplaces with over 300 million customers, a business can reach international skies with e-commerce exports in no time.

varsha

varsha

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Packers & Movers

Packers & Movers: What Should You Know Before They Help You?

2 months ago
Mahadiscom: View & Pay Bills Online, New Connection Registration, Track

Mahadiscom: View & Pay Bills Online, New Connection Registration, Track

3 years ago
Jansunwai Portal

Jansunwai Portal: Migrants Registration जनसुनवाई शिकायत पंजीकरण, etc

3 years ago
Indibet India Review | Indibet Is The Best Choice For Users

Indibet India Review | Indibet Is The Best Choice For Users

2 weeks ago
jharsewa portal

Jharsewa e-district Portal – Registration, Online Certificates, Check Status

3 years ago
Jnanabhumi

Jnanabhumi Portal – AP Post/Pre Metric Scholarship Status Online Check

3 years ago
Digilocker

Digilocker – डिजिटल लॉकर क्या है और डिजीलॉकर के क्या फायदे हैं?

3 years ago
Mahabhulekh

Mahabhulekh – महाराष्ट्र महाभुलेख 7/12 (Satbara Utara), 8A रिकॉर्ड ऑनलाइन

3 years ago
SSA Gujarat Portal

SSA Gujarat – Sarva Shiksha Abhiyan Portal for Online Attendance System

3 years ago

Popular News

    Top News

    Bill of Lading

    Bill Of Lading: Explained in detail

    by varsha
    March 16, 2023
    0

    Any import and export business can only flourish if one has a proper understanding of the documentation involved. Understanding the...

    Tech stack

    Tech stack: choosing the right technology matters

    by outwaynetwork
    March 13, 2023
    0

    What is the essence of a tech stack? How to make the right choice? What are the factors to focus...

    Must Read

    Discover the Top Tips to Help You Choose the Best Institute for UPSC!
    Education

    Discover the Top Tips to Help You Choose the Best Institute for UPSC!

    February 16, 2023

    Editor's Peak

    Bill Of Lading: Explained in detail

    Tech stack: choosing the right technology matters

    What are the possible benefits of playing an Online Rummy game?

    Instant Loan for Car Purchases: Is it a Good Option for You?

    • Contact Us
    • About
    • Privacy Policy
    • Terms and Conditions

    Copyright © 2022 All Rights Reserved | Powered by Bharatportals

    No Result
    View All Result
    • Contact Us
    • Home
    • Schemes
      • Uttar Pradesh
      • New Delhi
      • Andhra Pradesh
      • Madhya Pradesh
      • Tamil Nadu
      • West Bengal
      • Telangana
      • Karnataka
      • Rajasthan
      • Bihar
      • Jharkhand
      • Haryana
      • Maharashtra
      • Gujarat
    • Scholarship
      • PFMS Scholarship 2020- New Registration, Payment Status Check
      • UP Scholarship – यूपी स्कॉलरशिप स्टेटस 2019-20, स्कॉलरशिप अपडेट,
      • Jnanabhumi Portal – AP Post/Pre Metric Scholarship Status Online Check
      • Digital Gujarat – Online Registration, Digital Gujarat Scholarships, etc
      • National Scholarship Portal NSP 2020: New Registration | Sanctioned List
    • About Us
      • Disclaimer
      • Privacy Policy

    Copyright © 2022 All Rights Reserved | Powered by Bharatportals

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In