The different types of BoL include: <\/p>\n\n\n\n
- \n
- Negotiable and non-negotiable BoL<\/li>\n\n\n\n
- Straight and to order BoL<\/li>\n\n\n\n
- Clean and claused BoL<\/li>\n\n\n\n
- Mode of transport BoL: Ocean BoL, sea waybill (for sea freight<\/a>), master air waybill<\/a> (for air freight<\/a>), inland BoL, multimodal BoL and house BoL.<\/li>\n<\/ul>\n\n\n\n\n<\/i><\/font> Summary<\/b><\/i>
\n- A BoL is a required legal document that contains information about goods that are to be shipped
\n<\/li>- A BoL has 3 basic functions \u2014 a title document, a receipt for contents of shipment, and a contract of carriage
\n<\/li>- Shipped goods must be chaperoned by a BoL and must be signed by the carrier, shipper, and receiver
\n<\/li>- A BoL must be filled in accurately to prevent asset theft, exposure to claims and loss of coverage for the shipped goods\n<\/li><\/div><\/div>\n\n\n\n\n\n
Purpose of a Bill of Lading<\/strong><\/h2>\n\n\n\n
A bill of lading has 3 basic functions:<\/p>\n\n\n\n
- \n
- Title of goods<\/strong><\/li>\n<\/ol>\n\n\n\n
Firstly, it is a document of title to the goods for receivers. It acts as a proof of claim to shipments by the receiver. This will prevent carriers from handing the shipments to the wrong parties.<\/p>\n\n\n\n
It is also an important document for use during customs clearance<\/a>.<\/p>\n\n\n\n
- \n
- Receipt for contents of shipment<\/strong><\/li>\n<\/ol>\n\n\n\n
Secondly, it is a receipt for the goods shipped for shippers. It serves as an acknowledgment that the carrier has received the shipment from the shipper and will transport it to the destination. <\/p>\n\n\n\n
- \n
- Contract of carriage<\/strong><\/li>\n<\/ol>\n\n\n\n
Thirdly, it represents the agreed terms and conditions between the carrier and shipper for the transportation of the shipper\u2019s goods by the carrier. <\/p>\n\n\n\n
BoL is issued by the carrier when the goods are handed from the shipper to the carrier onto a freighting vessel. There will be 3 original BoLs as there is a possibility of losing it when sending BoLs to consignees. <\/p>\n\n\n\n
These 3 BoLs will be taken by the shipper, the consignee and the lender (a banker or broker) or a third party who is involved in the freight process.<\/p>\n\n\n\n
\n<\/i><\/font> What happens when the original BoL is lost?<\/b><\/i>
\nWhen the original BoL is lost, a new bill will not be generated until the original is retrieved. In such cases, the shipper, exporter, or importer should prepare and obtain the following documents from the respective parties:
\n- A written statement of loss
\n<\/li>- Packing list
\n<\/li>- Cargo commercial invoice
\n<\/li>- Copy of Letter of credit, if any
\n<\/li>- Shipper\u2019s approval
\n<\/li>- Letter of indemnity, by the shipper
\n<\/li>- Letter of indemnity, by the recipient
\n<\/li>- Bank guarantee
\n<\/li>- Formal request: release without original BoL or issuance of new set of original BoL
\nThese documents must be forwarded to the carrier, shipowner, or freight forwarder<\/a> for the release of the shipment.
\n<\/li><\/div><\/div>\n\n\n\nBill of Lading Template<\/strong><\/h2>\n\n\n\n
Every BoL will consist of the same information needed to prepare for the shipments. Below is a sample of a non-negotiable BoL.<\/p>\n\n\n
\n![\"Bill](\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-content\/uploads\/2022\/05\/Bill-of-lading-template-and-how-to-fill-in.png\")
Adapted from <\/em>Template Lab<\/em><\/a><\/figcaption><\/figure>\n<\/div>\n\n\n The information that is listed in the document will include:<\/p>\n\n\n\n
- \n
- Shipper\u2019s and receiver\u2019s names and complete addresses<\/li>\n\n\n\n
- Third party\u2019s name and complete address if the receiver is responsible for the freight charges<\/li>\n\n\n\n
- BoL number: carrier number and a 8, 10 or 12 digit code, depending on the issuer<\/li>\n\n\n\n
- Shipping tracking information: carrier name, trailer number, seal number, standard carrier alpha code (SCAC), and pro numbers <\/li>\n\n\n\n
- Customer order information <\/li>\n\n\n\n
- Carrier information: a complete description including whether the freight is classified as hazardous and special instructions is required <\/li>\n\n\n\n
- Cash on demand (COD) amount <\/li>\n\n\n\n
- Signatures of both shipper and carrier<\/li>\n<\/ol>\n\n\n\n
Example of How To Use Bill of Lading<\/strong><\/h2>\n\n\n\n
For example, ABC, a rice company, is sending 300kg of rice to EXO, the receiver, with a carrier company, XYZ. An XYZ representative will issue a BoL when the 300kg of rice is loaded onto their vessel for transit. <\/p>\n\n\n\n
XYZ will inform a customs representative when the goods have arrived at its destination. The receiver will check the shipped goods and sign that they have received the rice.<\/p>\n\n\n\n
\n<\/i><\/font> What happens when the original BoL is lost?<\/b><\/i>
\nWhen the original BoL is lost, a new bill will not be generated until the original is retrieved. In such cases, the shipper, exporter, or importer should prepare and obtain the following documents from the respective parties:
\n- Unable to limit liability
\n- Loss of protection and indemnity insurance coverage
\n- Loss of the right of indemnity from the charterer
\n- Criminal prosecution
\n- Exposure to paying claims
\n
\nTo prevent these, it is important to fill out details correctly.
\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"A Bill of Lading (BoL) is a required legal document that has to be filled to move a freight shipment. It contains information about the quantity, type and destination of the goods that are being shipped. The BoL acts as an evidence of a transportation contract between the shipper and the carrier. It is typically … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":157,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/posts\/140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/comments?post=140"}],"version-history":[{"count":0,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/posts\/140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/media\/157"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/media?parent=140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/categories?post=140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/encyclopedia.mp.com.sg\/wp-json\/wp\/v2\/tags?post=140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- Unable to limit liability
- A written statement of loss
- Contract of carriage<\/strong><\/li>\n<\/ol>\n\n\n\n
- Receipt for contents of shipment<\/strong><\/li>\n<\/ol>\n\n\n\n
- A BoL is a required legal document that contains information about goods that are to be shipped