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Stale Bill of Lading [Last Updated by: shahriar on 2012-01-01]
A bill of lading which has not been pre­sented to buyer, his bank or agent for payment within a reason­able time after its issuance, resulting in vessel's probable arrival at destination prior to receipt of the bill of lading. This frequently results in buyer having to post bond with vessel owners in order to obtain delivery of the goods. Stale bills of lading are occasionally used in the financing of goods sold to the Far East; usually, however, sellers take precautions to avoid bills of lading becoming stale, as this results in in­terest expense to them.


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