“Lade,” means consignments, which are delivered through putting them on the ship or other transport. A bill means a statement that determines the cost that is incurred in the return of the overhaul. A bill of lading is documentation related to the merchandise that is attained by the recipient. It consists of agreement that have been signed between a shipping company and the supplier or exporter for the release of the cargo.
These bills are records that are transmitted by the shipping company to the carter. It replicates the description and information related to the transporter that is transporting the shipment. The mode of delivering bills of lading can be through land, water or airways.
The significance of bill of lading
To shift consignments through one destination to another it is very imperative to have a bill of lading. It works in two ways- firstly, they work as a contract between the supplier and the transporter. Secondly, it works as a receipt that is submitted to the transporter from the carrier.
The importance of bill of lading
- This bill works as a proof that provides information related to the agreement, which is signed with the transporter for release of consignments.
- It works as a deed that declares that the transporter has inward the consignment on time and in perfect condition.
- It also symbolizes a permit for releasing the cargoes.
- This Documentation contains all the information related to provisions and clauses agreed between the two parties.
Classification of bill of lading:
Straight bill of lading
It signifies that consignments are directed to one individual who holds no equities. Also called a non-negotiable bill of lading, these bills are not secure.
Openbill of lading
Also called a negotiable bill of lading, where the recipient can be altered just by getting an approval. These alterations can be done numerous times.
Bearer bill of lading
In this invoice, the consignment is handed to the person who has the bill. Here the receiver is assigned, which is then established by the agent before handing over the consignment. Verifications are done to ensure safe deliverance of the cargoes. Since cargoes travel through various ports thus to avoid the occurrence of any kind of deception a proper procedure is followed.
Shipped bill of lading
This bill is discharged when the consignment is onboard.
Received bill of lading
This bill is sent from the representative to the transporter to confirm that they have taken the consignment.
A clean bill of lading
This documentation declares that consignment is on the ship and is packed properly and securely. They also depict if there is any defect in the binding.
Combined transport bill
These bills contain information about the consignment that is being dispatched via seaways, land or any other mode of shipping.
Through bill of lading
This document acts as an acknowledgement to directly convey the consignment from one destination to another.
Dirty bill of lading
These work as a section in which the transport owner can raise a doubt about the consignment situation. They can put feedback such as poor binding; broken consignment or other findings can be put down in this bill.
To sum up
Bill of lading plays a very significant role in the shipping process. These are authorized papers, which are fundamental information for the transporter to make sure that the whole process of delivery goes smoothly in different countries with the correct invoice in it. United Arab shipping company or a Dubai shipping company ensures that every import and export process includes proper documentation keeping in with all the legalities required for trading and custom clearance.