Dear fellows
Lc call for full set bill of lading exporter would like to present express BL . Will this be a discrepancy ? Please provide supporting reference and thanks for your reply
LC Call For Full Set Bill Of Lading Exporter Would Like To Present Express BL
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TradeLaporte
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STASPOLO
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Hi there,
1. Full set of bill of lading normally means 3 originals (signed and stamped and negotiable) + 3 non-negotiable copies. BOL has 3 functions: 1) evidence of the contract of carriage, 2) receipt of the goods, 3) title for the cargo (negotiability). The cargo cannot be released to the consignee at destination as long as the shipper holds that original bill of lading. E.G. Once shipper is paid, they will release hold on the cargo by sending original bill of lading to the importer by courier and importer will be able to collect the goods (i.e. importer presents original bill of lading to the shipping company at destination in order to release the cargo).
2. Express Release / express BL is supposed to be used in some specific occasions and is nonnegotiable, sent via fax / email. There is NO Original Bill of lading issued to anyone with an Express Release/ express BL , and is therefore not a Negotiable Document. The importer doesn’t need to wait for or surrender an original bill of lading in order to collect cargo because if it is an Express bill, it is manifested as such – so cargo can be released immediately upon its availability at the port of destination. Buyer just needs to prove its identity.
3. I would definitely treat presentation of express BL i/o full set of BOL as a discrepancy. Firstly - presentation of express BL contradicts to the LC requirements. Secondly - express BL and BOL are totally different docs by their legal nature.
.
Any other comments are welcome.
1. Full set of bill of lading normally means 3 originals (signed and stamped and negotiable) + 3 non-negotiable copies. BOL has 3 functions: 1) evidence of the contract of carriage, 2) receipt of the goods, 3) title for the cargo (negotiability). The cargo cannot be released to the consignee at destination as long as the shipper holds that original bill of lading. E.G. Once shipper is paid, they will release hold on the cargo by sending original bill of lading to the importer by courier and importer will be able to collect the goods (i.e. importer presents original bill of lading to the shipping company at destination in order to release the cargo).
2. Express Release / express BL is supposed to be used in some specific occasions and is nonnegotiable, sent via fax / email. There is NO Original Bill of lading issued to anyone with an Express Release/ express BL , and is therefore not a Negotiable Document. The importer doesn’t need to wait for or surrender an original bill of lading in order to collect cargo because if it is an Express bill, it is manifested as such – so cargo can be released immediately upon its availability at the port of destination. Buyer just needs to prove its identity.
3. I would definitely treat presentation of express BL i/o full set of BOL as a discrepancy. Firstly - presentation of express BL contradicts to the LC requirements. Secondly - express BL and BOL are totally different docs by their legal nature.
.
Any other comments are welcome.