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Letter of Credit and Bill of Lading?


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Old 07-12-2008, 05:44 AM
Carl Carl is offline
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Default Letter of Credit and Bill of Lading?

I have so many requests for "intended vessel" in the BL (mentioning the second vessels which the cargo has not onboard yet), according to customer it is LC requirements? Is this true? as far as I know LC does not stipulate the need to mention any vessels. Anyone could help?
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Old 07-12-2008, 06:13 AM
Dollar Dollar is offline
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Default Letter of Credit and Bill of Lading?

Bill of Lading: A Bill of Lading is considered the most important document involved in a shipment of merchandise. An exporter receives a Bill of Lading when delivering the merchandise to the shipping company for transport to an importer.
Order Bill of Lading: An Order Bill of Lading is a title document. Steamship companies issue one or more original Order Bills of Lading per shipment, which allows an importer to claim merchandise when it arrives. An exporter normally endorses the Bills of Lading "in blank," which means that they are not endorsed to a specific person or institution. The party possessing any one of the original Bills of Lading can take possession of the goods.

Letter of credit
Undertaking given by a bank on behalf of a buyer to pay a seller a sum of money upon presentation of documents complying with all the terms and conditions of the letter of credit.

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The bill of lading (in ocean transport), waybill or consignment note (in air, road, rail or sea transport), and receipt (in postal or courier delivery) are collectively known as the transport documents. The bill of lading (B/L) serves as a receipt for goods, an evidence of the contract of carriage, and a document of title to the goods. The carrier issues the B/L according to the information in a dock receipt, or in some cases according to a completed working copy of the B/L supplied by the customs broker.

The B/L must indicate that the goods have been loaded on board or shipped on a named vessel, and it must be signed or authenticated by the carrier or the master, or the agent on behalf of the carrier or the master. The signature or authentication must be identified as carrier or master, and in the case of agent signing or authenticating, the name and capacity of the carrier or the master on whose behalf such agent signs or authenticates must be indicated.

Unless otherwise stipulated in the letter of credit (L/C), a bill of lading containing an indication that it is subject to a charter party and/or that the vessel is propelled by sail only is not acceptable.
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Old 03-25-2011, 10:09 PM
mainterpet mainterpet is offline
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A bill of lading conver possession of a charge from the shipper to the receiver. If you hold the bill of lading, you have described the charge on it.The term "sea"only on the means of transport.
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