The information provided here is part of Import Export Training online
When can an exporter release bill of lading from shipping company?
This is one of the common questions in international trade. What is the earliest time to release bill of lading. When can an exporter get bill of lading from carrier? Can an exporter obtain bill of lading immediately up on handing over goods to carrier? Can Bill of Lading be released before movement of goods from factory? Can BL be obtained before completion of export customs clearance procedures and formalities? Can an exporter get the bill of lading immediately up on preparation of invoice? Can bill of lading be released after moving cargo from factory? Can we ask BL from shipping line immediately after booking consignment? Can BL be released after filing of shipping bill with customs for export?
Bill of Lading is a negotiable instrument and a document of title issued by carrier of goods to the shipper as a proof of receipt of goods which contains the details of goods. The details of Bill of lading includes the description of goods, quantity of goods, number of packages, gross weight, freight details, place of receipt, port of loading, port of discharge, place of final destination, shipper name, consignee name, notify party if any , buyer other than consignee if any etc.etc.
As I have explained, any goods can be moved out to other country only after completion of necessary export customs clearance procedures and formalities. In India, Let export order is the permission given by the customs to move the cargo to foreign country.
The bill of lading is issued by the carrier of goods only after receiving the cargo by them after completion of customs formalities. Let Export Order of shipping bill is the proof of completion of customs formalities in India. I have explained in detail about the procedures to obtain ‘let export’ order in another article in same web blog. You may go through the same to have a clear idea on the mechanism of ‘Let Export Order’. So the proof of Let export Order of shipping bills for movement of goods delivers to carriers once after issued by customs officials duly signed. The carrier issues bill of lading by confirming receipt of cargo from shipper/exporter, once after receipt of ‘let export’ order delivered by shipper’s customs house agent.
Now, the cargo is under the custody of carrier and he has been permitted to move the cargo to foreign destination. As you know, bill of lading is the proof of receipt of goods by carrier, and the carrier can issue Bill of lading once he received the cargo along with original customs signed let export order of shipping bill which is a proof of completion of customs formalities in India. If exporter release bill of lading immediately up on delivery of goods to the carrier after completion of necessary export legal customs clearance procedures and formalities, he is eligible to obtain a ‘Received for shipment’ bill of lading and not ‘shipped on board’ bill of lading.
If exporter requires an ‘On Board’ bill of lading, he needs to wait till the goods gone on board the vessel. The carrier or his agent release an ‘On Board’ bill of lading, once after the goods gone on board the vessel.
I hope, I have explained about the time of release of Bill of Lading to shipper.
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The above information is a part of Export Import Training online
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