Question

Bill of Lading (B/L) classification and carrier release methods

Answer below questions or complete the sentences.

Your choices are:

• Master B/L
• House B/L
• Original Bill of Lading
• Seaway Bill of Lading (Express release)
• Telex Release
• Straight B/L
• Shipper's order

Question

Answer

1. What is the name of the B/L once it is issued by the carrier (shipping agent)?

2. A release message sent by the shipping line to their destination office is called ..................................

3. What is the method of release once the Letter of credit is involved?

4. In case the shipper needs to speed up the documentation delivery after vessel sailing, what release method will they require from the shipping line?

5. The B/L used when goods are already fully paid for and shipped directly to the consignee/customer is called.....................

6. What is the name of the B/L once it is issued by the freight forwarder NVOCC?

7. What type of release can the shipping line issue in case of "To the order of the shipper" B/L?

8. When the shipper is waiting for payment from the receiver, he usually requires ................................. upon buyer payment.

9. The Consignee can obtain the cargo at the port of discharge possessing either one of the following release documents/ forms:

.....................

....................

....................

10. Which two methods of release eliminate the risk of the loss of original B/L?

11. When there is a high degree of trust between the shipper and the consignee what is the preferable method of release?

12. B/Ls used when cargo is purchased on credit, and are handled through a bank are called ..............................

13. What is the method of the release when the shipper and consignee are part of the same group?

14. Customs authorities at some destinations require the ........................................... for the clearance process.

Answer 1

1 Master B/L

2 Telex Release

3 shippers order

4 Telex release

5 Straight B/L

6 House bill of lading

7 Original Bill of lading

8 Telex release

9 Original bill of lading, Telex Release, Seaway bill of lading

10 Express release, Telex Release

11 Express Release

12 Shippers Order

13 Seaway bill of lading

14 Original bill of lading

Explanation:

• Master B/L-It is a bill of lading issued by ship owner or carrier to the NVOCC Operator as a receipt of transfer. It contains the details such as name and address of the consigner, or the shipper or consignee.
• House B/L: It is issued by NVOCC operator to the customer. It functions between the actual buyer and actual seller.
• Original Bill of Lading: It is a shipping document which serves as the title of cargo. Holder of Bill of lading can claim the possession of the goods. Bill of lading is considered as negotiable document
• Seaway Bill of Lading (Express release):When seaway bill is released it is called an express release as destination agent can release the goods to consignee as soon as it arrives without production of original bill of lading.It cannot be transferred to another party
• Telex Release: It means release of cargo at one port when the oriinal bill of lading has been surrendered at other port. It is usually a message which sent by the shipping agent from origin to the office at custom destination which signifies that shipper has surrendered the original bill of lading.
• Straight B/L: It is a bill of lading which specifies the name of the consignee to whom goods are being delivered. It is a non-negotiable i.e. it cannot be endorsed to another party.
• Shipper's order: It is a bill of lading which outlines the conditions that have been imposed by shipper. It is a negotiable instrument which may include fulfilling the terms of letter of credit before receiving the goods.