3 Reasons under Importance of bill of lading in international trade

 The information provided here is part of Online Export Import course 

 

 Importance of bill of lading in International trade

 

 

What is Bill of Lading? What is the importance of a Bill of Lading in an Import Export trade?

 

Bill of Lading is used in Export and Import trade under sea mode of shipments. How does Bill of Lading work in an International Trade?

 

Let me explain the major 3 importance of Bill of Lading in exports and imports.

 

Evidence for a contract of carriage.

 

Bill of lading serves as evidence for a contract of carriage.

 

So bill of lading is a document of evidence under a sea consignment. Means, Bill of Lading is proof of shipment under a sea mode of transport.

Importance of bill of lading in international trade

Proof of receipt of shipment by carrier

 

Secondly, it is proof of receipt of shipment by carrier of goods to overseas destination. Once after completion of necessary export customs formalities in an exporting country, the cargo is handed over to shipping company who carries goods to final destination. The carrier or their agent issues bill of lading as proof of receipt of cargo.

 

Bill of Lading is a document of title.

 

 

Thirdly, Bill of Lading is a document of title. It is a legal document used as proof of shipment in various authorities, as it has been approved as per Negotiable instrument Act. Without original bill of lading, the goods can not be taken delivery at destination.

 

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Share your experience in handling bill of lading on this subject – Importance of Bill of Lading in International trade.

 

The above information is a part of Export Import Online Tutorial


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Comments


hirfanullah: 1.role of various government bodies governing shipping in india. 2.define and explain ZT. 3.different certificates collected from the ship and their significance. 4.history of freight conference. 5.details that should taken into consideration before issuance of delivery order. 6.difference between a commodity freight and freight all kind. 7.role and duties of major port only not about officers. 8.the importance of a transhipment notification.

Girish: Procedures for filing Advance Authorisation with DGFT for redemption/EODC. Request for step by step procedures with different cases of Export fulfillment viz partial, zero export and complete export.

ganesh shinde: very good experiance about this point of export solution

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