📄 Bill of Lading and Charter Party Bill of Lading
US Capital Private Bank Knowledge Base
📦 Bill of Lading (B/L)
A Bill of Lading is a critical document in international trade and shipping, serving three primary functions:
| Icon | Function | Description |
|---|---|---|
| 📜 | Receipt of Goods | Confirms the carrier has received the cargo as described by the shipper. |
| 🛳️ | Document of Title | Represents ownership of the goods; transferable and negotiable. |
| 📑 | Contract of Carriage | Establishes the terms and conditions under which the goods will be transported to the consignee. |
Types of Bill of Lading
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Straight Bill of Lading: Non-negotiable; consigned to a specific party.
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Order Bill of Lading: Negotiable; ownership can be transferred by endorsement.
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Bearer Bill of Lading: Negotiable; possession equals ownership.
⚓ Charter Party Bill of Lading
A Charter Party Bill of Lading arises when goods are shipped under a charter party agreement, where a ship or a part of it is hired for the transport of cargo.
| Icon | Characteristic | Description |
|---|---|---|
| 📝 | Originates from Charter Party | Unlike standard B/Ls issued by carriers, this document reflects the terms negotiated in the charter party contract. |
| 📜 | Evidence of Contract | Acts as evidence of the terms agreed upon between the shipowner and the charterer regarding carriage. |
| 🔄 | Multiple Functions | Serves as a receipt of goods, a contract of carriage, and a document of title, similar to a standard B/L. |
| ⚖️ | Complex Legal Implications | Has unique provisions influenced by the charter party, affecting liabilities and responsibilities. |
🛡️ Importance in Trade Finance
Both types of documents are essential for:
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Facilitating payment under Letters of Credit
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Transferring ownership of goods
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Providing legal evidence in disputes over cargo loss, damage, or delivery
📬 Contact US Capital Private Bank
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🎥 For further education on trade and shipping documentation, watch:
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