The bill of lading is one of the most important and essential sea freight documents in the transportation of goods. So what is surrendered bill of lading? This article will help you get a more specific and detailed answer about surrendered bill of lading.
Table of Contents [Hide]
1. What is Surrender bill of lading?
Surrender bill of lading known as bill of lading of presentation or electric bill of lading is a legal document issued by an exporter to terminate their title to the goods sent and to be transferred to the importer.
When you ship internationally, carrier agents will usually ask for the original bill of lading. However, once a bill of lading has been delivered at the carrier's office of origin, an original of the bill of lading will not be required for delivery at destination.
The bill of lading is like a shipping ticket. In order to receive the shipment, the original must be submitted to the carrier's destination agent, unless the bill of lading has been submitted.
In international trade, most shippers (exporters) today do not send the original bill of lading to the consignee. Instead, they deliver the bill of lading at the point of origin, as this makes the process much easier.
Usually, the bill of lading is issued on the day the ship departs. For example, if you are shipping from Japan to Hong Kong, the shipment will arrive at the Hong Kong port in 6 days. If the shipper receives the bill of lading from the carrier within a few days of departure and then sends it to the consignee by EMS, FedEx or similar, the bill of lading will be delivered to the consignee after the ship arrives at Hong Kong Port . Shipping by EMS or FedEx isn't cheap and there's also the risk of non-delivery or delays. With that in mind, when the bill of lading is presented, the procedure becomes very simple. Once the bill of lading is submitted, no original is required. After the carrier receives payment from the shipper (usually through an international carrier like us, in the case of personal belongings), they arrange for the delivery of the bill of lading. They then send a confirmation to the destination agent that the bill of lading has been delivered and the shipment can be released without the original. Typically, the process of shipping a bill of lading takes place between a few hours and a few days.
When a bill of lading is delivered after you pay the carrier, they will put a stamp that says “Shipped” on the bill of lading and they will send you a copy of the delivered B/L. It is important that you send a copy of it to the consignee.
The customs authorities of Central and South American countries and Indonesia do not accept bills of lading, consignment bills of lading or express delivery. Therefore, if you are shipping (from Japan or elsewhere) to any Central and South American country or to Indonesia, you must ensure that your international carrier or shipping agent sends you original bill of lading instead of delivery bill of lading.
2. The importance of Surrender bill of lading
Once the importer has completed payment for the goods, the exporter waives his rights to the consigned goods and cannot reclaim title. Surrender BL is required for the transfer of title to the goods.
The importance of Surrender bill of lading
3. How does Surrender bill of lading work?
The exporter can legally hold the bill of lading and take possession of the goods until the importer has not paid. A bill of lading that matches the payment terms allows exporters and importers to complete the transaction with the assistance of their local banks. On behalf of the exporter, the local bank submits the payment terms and documents to the importer's bank. The importer pays for the goods and the exporter then delivers the goods and transfers ownership of the goods to the importer. This process is both safe and convenient.
However, the exporter should ensure that payment is completed prior to delivery of the invoice. If the importer receives the delivered BL before completing the payment and claiming title to the goods, the exporter may not be paid. In summary, it can be said that this transaction is a better option when an exporter has a reliable relationship with the importer.
>> Let's learn about petrified belt products in Dong Nai
4. Example of Surrender bill of lading
Example of Surrender bill of lading
The exporter sends the goods to the shipper. The shipper inspects the goods and issues the Bill of Lading as a cargo receipt to prove his legal title to the goods during transit. The carrier to the destination. The importer must pay for the goods to the exporter after issuing the invoice. Title to the goods is transferred to the importer and must be completed depending on the type of shipping container to release the goods and claim title.
Above is some information about Surrender bill of lading
Giaiphaiphapdonggoi.net same level for you. Hope the above sharing will be useful for you in studying and working.
Check out other articles on the same topic:
What is customer service? Tips to improve Customer service skills
Effective warehouse management KPIs for factories
