STALE BILL OF LADING What does it mean?

 The information provided here is part of Import Export Training course online



STALE BILL OF LADING What does it mean?

 

When does a Bill of Lading become Stale?

Stale Bill of Lading

I have written a couple of articles  in this web blog in detail about the importance of Bill of Lading, it’s function and mechanism in international business.

 

Now, let us discuss about Stale Bill of Lading (Stale BL). What is Stale Bill of Lading? How does Stale Bill of Lading work? Is stale bill of lading acceptable by negotiating bank, discounting bank, buyer’s bank or buyer?

 

Before explaining about stale bill of lading,  let us have a brief idea about the time of releasing bill of lading.   When can a Bill of lading be issued?   Bill of Lading  can be issued immediately up on completion of  export customs clearance formalities of the country.  If ‘ON BOARD’ bill of lading is required, shipper can release bill of lading from carrier immediately up on the  shipment gone on board the vessel.    Once after releasing bill of lading from shipping carrier, exporter submits  the same with  his  bank along with other documents to send to his overseas buyer.

 

Now let us discuss about Stale BL    What is Stale BL?

 

A Bill of Lading can be treated as  ‘Stale’ , if  it is presented long after sailing of vessel  pertaining to a shipment  at  port of loading.   Such presentation  of Bill of Lading could be with the Supplier’s Bank, Discounting Bank, Negotiating Bank, Buyer’s Bank or buyer.  The term ‘Stale Bill of Lading’ is also used when a bill of lading is presented with a bank after expiry date of credit.

 

According to international commercial practice, Bill of Lading along with other shipping documents must be presented to the bank not later than twenty one days of the date of shipment as given in the Bill of Lading. In some cases, the Importer may indicate the number of days within which the documents are to be presented from the date of shipment. Exporter has to comply with the stipulation period of time indicated. Otherwise, the Bill of Lading  becomes stale and is not accepted by the bank for payment. A stale bill is one which is tendered to the presenting bank so late a date that it is impossible for the bank to dispatch to the consignee’s place, in time,  before the goods arrive at the destination port. In other words, bank finds it impossible to see the documents reach before the ship reaches the destination. Here, Bill of Lading reaches after goods reaches at destination.   If a bill of lading presented to consignee or a bank after the last date specified in the documentary credit becomes stale.  So a  Stale Bill of Lading  can be rejected by  the bank where in such Bill of lading is presented for negotiation under documentary credit.

 

In this article, I have exaplained about Stale Bill of Lading in simple language to understand easily.  Have you satisfied with this  article about Stale Bill of Lading? Would  you like to add more information about Stale Bill of Lading (BL)?  Share your experience in handling Stale BL.

 

Discuss below your thoughts about Stale BL.

 

The above information is a part of Online Training Course on howtoexportimport

STALE BILL OF LADING What does it mean?   Difference between Clean On Board Bill of Lading and Shipped On Board Bill of Lading.   Can Original Bill of lading be surrendered under DP terms of payment  Can Original Bill of lading be surrendered under LC at sight   Can Bill of Lading be surrendered on LC terms   How to obtain a duplicate BL, if original bill of lading lost?  Can a Bill of Lading be consigned to a customs broker?   Can I get bill of lading before loading cargo   Can two consignments meant for one buyer be shipped together under one Bill of Lading?    Consignee To Order in Bill of Lading    How to avoid delay in receiving OBL Original Bill of Lading?   Amendment of Bill of Lading    How to amend shipper details in Bill of Lading?.   How to surrender HBL House Bill of Lading   Surrender of Bill of Lading Some facts How does Bill of Lading work in Sight LC.   How does Bill of Lading work in DP payment terms?   Can a Bill of Lading (BL) be predated for LC negotiation?   What is the earliest date can be mentioned on Bill of Lading. Can BL date and let export date be same day?   Can shipping line predate Bill of Lading,What is the earliest date can be mentioned on Bill of Lading.    What is Said to weigh in Bill of Lading   What is Shipper Load, stow and count in Bill of Lading    What is said to contain in Bill of Lading.   Can an importer take delivery of goods without original bill of lading?  What is House BL House Bill of Lading   Can Bill of Lading (BL) be before date of Certificate of origin GSP?   What is Express Release Bill of Lading?  Can Bill of Lading be surrendered at port of loading?    Transferability of Bill of Lading  What is charter party bill of lading ?   How  transshipment bill of lading works?   What is Combined Bill of Lading / Multi model Bill of Lading   Unclean Bill of Lading/Claused bill of lading/foul bill of lading/Dirty Bill of Lading   What is Clean on board Bill of Lading?  Is received for shipment Bill of Lading sufficient for LC negotiation?  Different types of Bill of Lading   3 Reasons under Importance of bill of lading in international trade   When can an exporter get bill of lading from shipping company?   

 

 

Excise and Customs - Click here to read complete notification under Budget 2014
Beware of confusing airports worldwide
Cargo shipped to wrong destination. Please help
Click here to know HS code of other product/commodity
How to get Export Orders? 
How to settle dispute in Exports and Imports? 
Import clearance procedures and formalities
Liquidation of Bank pre shipment finance to exporters
Running account facilities for bank export finance
Difference between port of discharge and port of delivery.  
Documents required for import customs clearance
Types of export containers
Measurement of export containers
Export Import Policy of India 2015-20
MEIS, Merchandise Exports from India Scheme
SEIS, Service Exports from India Scheme
Merge your Commercial Invoice and Packing List for all your future exports
Export procedures and documentation

 

Transferability of Bill of Lading

 

Transhipment - A redefinition

 

Travelers to India under import duty exemption, Frequently Asked Questions Part 2

 

Triangular export

 

 Triangular shipment

 

Types of Insurance Documents.

 

Importance of Bill of Lading

 

Introduction to this web site.

 

 Is Airway bill a documents of title?

 

 Is Customs House Agents (CHA ) required to be appointed mandatory?

 

 Is DP terms of payment safe in export business?

 

Is Letter of Credit LC safe for an Importer?

 

 Is ON BOARD CERTIFICATE required for LC negotiation

 

Why to insure export goods?

 

Why, best attention while preparing Export Invoice?

 

Related posts about Export Import  Free Online Training:


Difference between standard dry container and Open Top Container
How to import Prepared vegetables, Prepared fruits, Prepared nuts           
Guidelines to importers of Prepared Cereals, Prepared Flour, Prepared starch and Prepared Milk           
Import processes of Cocoa and Cocoa products     
Trade Facilitation Agreement ( TFA) and India         
Period of post shipment credit to exporters   
How does a Running bond work?
How does CENVAT Credit work? 
Import General Manifest (IGM)
Importance of Bill of Lading 
Procedure to Import Ships and Floating Structures  
How to Import Musical Instruments, Parts and Accessories
Procedures to Import Clocks, Watches        
How to import Optical, Photographic, Medical Instruments and Accessories          
Types of Export Containers   





Comments


Tadele Berhanu: what is the difference between stale documents and stale bill of lading?

SAKTHI BALAN: Dear Sir, Thanks your valuable answer,

Manjeet Roshan: I had just visited your website 'howtoexportimport.com' and the material I found is very useful. I have one query, I want to set up my own Freight Forwarding Company can you please guide me what process to follow, is their any license to acquire and all other verticals where it has to be registered. whether after all the setups can I issue House Bill of Lading. Apart

DEVIDAS DHUMAL: Hi Sir, I need help on Third country export transactions. What are major terms & condition in this transactions. Here I don't want to disclose the Principle supplier name & End use customer to each others. Which Inco term is suitable? What will be payment terms with end customer & Principle supplier.? How to prepare Bills of lading.? Thanks & Regards 9322985059

Kenil Maheta: Hello Sir, i am working in freight forwarding company and one of our customer exported goods with the help of L/C. under L/C it is mentioned that shipper have to represent documents to bank within 7 days of the loading. however we have failed to present docs before 7 days as we have received B/L late as well also some problem arise to issue certificate of origin. now in this case what happen if we will present docs after the 7 days of the shipment.

Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers