Bill of Lading

MARITIME DICTIONARY 2012

Charter Party

WORD: Berth charterparty

MEANING: Stipulation in a charter party contract that the vessel must reach the agreed destination and be safely berthed before she is an arrived ship.

WORD: Charterparty bill or bill of lading

MEANING: A bill of lading issued under a charter party. It is not acceptable by banks under letters of credit unless so authorised in the credit. A bill of lading that indicates that it is subject to a charter. charterparty bills of lading, e. g. Congenbill, characteristically contain far fewer detailed terms on their reverse than do other bills of lading, for the very reason that most of their detailed terms are set out in the material charter.

WORD: Charterparty by demise or Demise Charterparty

MEANING: A contract by which the lessor (shipowner) places a ship in the hands of the lessee (the demise charterer) who assumes possession and control. The consideration paid by the charterer is "hire" which is payable at specified intervals during the term of the charter. A bareboat charter is a demise charter whereby the owner names the Master and sometimes the crew, who are nevertheless paid by the charter and they are under the control of the charterer.

WORD: Charter party deletions

MEANING: Deletions of one or more clauses in a charterparty which are considered legal and binding.

WORD: Coal charterparty clause

MEANING: A charterparty clause under which the owners are to give ample notice to the charterer as to the actual day when the vessel will be available at the loading berth.

WORD: Demise charterparty

MEANING: A charterparty under which the charterer puts own stores, fuel etc. on board and hires the crew. This type of charterparty is also known as a bareboat charterparty.

WORD: Hire purchase charterparty

MEANING: charterparty where the charterer gets ownership of the vessel at the conclusion of the charterparty.

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WORD: Pro forma charterparty

MEANING: A document containing all the terms and conditions of a contract between a shipowner and a charterer but which is unsigned and therefore is not the contract itself.

WORD: Standard form of charterparty

MEANING: A charterparty formulated by the Chamber of Shipping or the Baltic White Sea Conference or similar societies and institutions.

WORD: Time charterparty

MEANING: A contract whereby the lessor/shipowner places a fully equipped and manned ship at the disposal of the lessee/charterer for a period of time for a consideration.

WORD: Voyage charter or Voyage charterparty

MEANING: An agreement under which a ship is to load at one or more named ports (or identified berth within a port) a particular specified cargo to be carried to a named discharging port or ports. Contract of carriage in which the charterer pays for the use of a ship’s cargo capacity for one, or sometimes more than one, voyage. Under this type of charter, the shipowner pays all the operating costs of the ship (including bunkers, canal and port charges, pilotage, towage and ship’s agency) while payment for cargo handling charges are subject of agreement between the parties. Freight is generally paid per unit of cargo, such as a ton, based on an agreed quantity, or as a lump sum irrespective of the quantity loaded.

B/L issued by the hirer (charterer), and not by the owner, of the ship (vessel) transporting the shipment. Since the owners of the vessel often have the right to lay claim to the cargo aboard the ship (in case of a dispute with the chartrer) banks generally refuse to accept such B/Ls as collateral for loans, or for payment under a letter of credit.

Read more: http://www.businessdictionary.com/definition/charterparty-bill-of-lading-B-L.

For the first time around 15000 entries in one dictionary. This book provides glossary of over 11000 words terms, phrases and expressions apart from around 4000 acronyms and abbreviations used in marine and shipping industry. It contains not only contemporary and modern entries but terms and expression considered as archaic are also part of the lexicon.

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http://www.businessdictionary.com/definition/charterparty-bill-of-lading-B-L

http://www.businessdictionary.com/definition/charterparty-bill-of-lading-B-L


Type WORD

Bill of Lading

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WORD: Acceptance of the bill of lading

MEANING: Shipper agreeing that the receipt, custody, carriage, relay, delivery and any transshipping of the goods are subject to the term appearing on the face and the back hereof, which shall govern the relations, whatsoever they may be, between the shipper and the carrier, its agents, contractors, employees, Master and vessel in every contingency occurring and whether Carrier acting as such or bailee.

WORD: Accomplished bill of lading

MEANING: The endorsed bill of lading presented by the consignee for delivery order and retained by the agent of a ship for record.

WORD: Ad valorem bill of lading

MEANING: A bill of lading where the value of the cargo has been declared by the carrier and "inserted in the bill of lading" by art. 4(5) of the Hague Rules or art. 4(5)(a) of the Visby Rules. It is also called as valued bill of lading.

WORD: Amended bill of lading

MEANING: bill of lading requiring updates that do not change financial status; this is slightly different from corrected bill of lading.

WORD: Bearer bill of lading

MEANING: A bill of lading providing for the delivery of the goods to whoever holds the bill. The bill is a bearer bill of lading explicitly identified as such. It names the consignee as bearer. It is an order bill of lading which fails to mention to whose order it is; or it is an order bill of lading endorsed in blank. It is negotiable by its mere delivery.

WORD: Bill of lading

MEANING: A document signed by, or on behalf of the Master of a ship containing an acknowledgement that the goods have been received and which evidences a contract of carriage by sea and the taking over or loading of the goods by the carrier, and by which the carrier undertakes to deliver the goods against surrender of the document. A provision in the document that the goods are to be delivered to the order of a named person, or to order, or to bearer, constitutes such an undertaking.

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WORD: Bill of lading clause

MEANING: A particular article, stipulation or single proviso in a bill of lading. A clause can be standard and can be preprinted on the bill of lading.

WORD: Bill of lading freight

MEANING: Freight paid by the shipper to the carrier for the carriage of goods.

WORD: Bill of lading number

MEANING: A unique number appearing on a bill of lading, used to identify the bill of lading and the shipment it represents.

WORD: Bill of lading release

MEANING: The original bill of lading is the legal document of title which must be presented, duly endorsed, to the lines' agent for the release of cargo.

WORD: Bill of lading terms & conditions

MEANING: The fine print on bill of lading that defines what the carrier can and cannot do, including the carrier's liabilities and contractual agreements.

WORD: Bill of lading ton

MEANING: The weight or measurement of goods where 1 ton is either 1000 kilogramme or 1 cubic metre.

WORD: Bill of lading tonne

MEANING: Tonnage (weight or measurement) used to calculate freight.

WORD: Blank bill of lading

MEANING: A bill of lading where the name of the receiver or consignee is not inserted and is replaced by the word bearer.

WORD: Carrier bill of lading

MEANING: bill of lading issued by the shipping company for carriage of cargo from place of origin to the place of destination stated on the bill of lading.

WORD: Charterparty bill or bill of lading

MEANING: A bill of lading issued under a charterparty. It is not acceptable by banks under letters of credit unless so authorised in the credit. A bill of lading that indicates that it is subject to a charter. Charterparty bills of lading, e. g. Congenbill, characteristically contain far fewer detailed terms on their reverse

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than do other bills of lading, for the very reason that most of their detailed terms are set out in the material charter.

WORD: Claused bill of lading

MEANING: A bill of lading indicating that some discrepancy exists between the claused bill of lading. A bill of lading indicating that some discrepancy exists between the goods loaded and the goods listed on the bill.

WORD: Collect bill of lading

MEANING: A bill of lading calling for charges to be paid by the consignee.

WORD: Combined transport bill of lading

MEANING: A document of title, also known as a combined transport document, specifying that goods have been accepted for transport to final destination, and covering movement by sea, road and rail.

WORD: Commercial bill of lading

MEANING: Carrier documentation used for transportation of shipments, such as that used by small package express carriers. It includes the commercial procedures related to the use of such documentation.

WORD: Consolidator's bill of lading

MEANING: A bill of lading issued by a consolidator as a receipt for merchandise that will be grouped with cargo obtained from other shippers.

WORD: Corrected bill of lading

MEANING: bill of lading requiring any update which results in money or other financially related changes.

WORD: Custody bill of lading

MEANING: A bill of lading issued by warehouses as a receipt for goods stored.

WORD: Duplicate bill of lading

MEANING: Another original bill of lading set if first set is lost. also known as reissued bill of lading.

WORD: Exchange bill of lading

MEANING: A bill of lading issued in exchange for another bill of lading.

WORD: Forwarder's bill of lading

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MEANING: A bill of lading issued by a forwarder to a shipper as a receipt for merchandise that the forwarder will consolidate with cargo obtained from other exporters and ship to his agent at the port of destination. Forwarders bill have no standing for banking purposes unless specifically allowed in the letter of credit. Also called house bill of lading.

WORD: Foul bill of lading

MEANING: A receipt for goods issued by a carrier with an indication that the goods were damaged when received.

WORD: Freight bill of lading

MEANING: A contract of carriage between a shipper and forwarder (who is usually a NVOCC); a non-negotiable document.

WORD: Government bill of lading

MEANING: GBL is used for the transportation of property of a government (basically the United States) for which the government pays the transportation charges directly to commercial carriers.

WORD: Groupage bill of lading

MEANING: bill of lading issued by a carrier to a forwarding agent who collects and /or delivers individual cargoes from a group shipment which is covered under one bill of lading. Such bill of lading is called groupage bill of lading.

WORD: Hitchment or Hitchment bill of lading

MEANING: bill of lading covering parts of a shipment which are loaded at more than one location. Hitchment bill of lading usually consists of two parts, hitchment and hitchment memo. The hitchment portion usually covers the majority of a divided shipment and carries the entire revenue.

WORD: Holder of bill of lading

MEANING: The shipper, the consignee or any person in whose favour bill of lading is endorsed and includes any person that can show having obtained the due transfer of the document, even if the continuity of the endorsements is lacking.

WORD: House bill of lading

MEANING: A bill of lading issued by a forwarder. It gives particulars of the transport arrangements the forwarder has made, much as an ocean bill of lading does, but does not contain a promise by the forwarder to deliver the consignment at destination. A party receiving an HB/L could well be confused by its similarities with an ocean bill of lading, and so unaware of this omission.

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Forwarders do not have possession of goods covered by the HB/L, which are under the control of the actual carrier. Forwarders may not even have a right of immediate possession against a carrier who is exercising a right to retain the goods until it receives additional amounts, such as container demurrage.

WORD: Inland bill of lading

MEANING: A bill of lading used in transporting goods overland to the exporter's international carrier. Although a through bill of lading can sometimes be used, it is usually necessary to prepare both an inland bill of lading and an ocean bill of lading for export shipments.

WORD: Inland waterways bill of lading

MEANING: Transport document made out to a named person, to order or to the bearer, signed by the carrier and handed to the sender after receipt of the goods.

WORD: Intermodal bill of lading

MEANING: bill of lading covering cargo moving via multimodal means. Also known as Combined Transport bill of lading, or Multimodal bill of lading.

WORD: Long form bill of lading

MEANING: bill of lading form with all terms & conditions written on it. Most B/L's are short form which incorporate the long form clauses by reference.

WORD: Master bill of lading

MEANING: bill of lading issued by the ocean carrier and typically will show the exporting forwarder as the shipper and the forwarder's import counterpart as the consignee. This is the shipping agreement between the forwarder and the ocean carrier. A Master bill may have more than one house bill consolidated under it. A MBL can also be consigned direct from a shipper to a consignee on a bill of lading. Companies can arrange transportation directly with carriers and are not required to use a forwarder.

WORD: Memorandum bill of lading

MEANING: The duplicate (non-original) copies of bills of lading are marked "Memorandum" and are intended for informational purposes only.

WORD: Minimum bill of lading

MEANING: A clause in a bill of lading which specifies the least charge that the carrier will make for issuing a lading. The charge may be a definite sum or the current charge per ton for any specified quantity.

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WORD: Multimodal bill of lading

MEANING: bill of lading covering shipment of goods by more than one means of transportation but including an ocean leg. The two major forms of multimodal bill of lading are the combined transport bill of lading and the through bill of lading. Under the former, the carrier signing the bill of lading (the "contractual carrier") frequently subcontracts the various legs to other carriers (the "actual carriers"), but still takes responsibility for delivery of the goods to the "place of delivery" and for any damage that might occur during carriage. Under the latter, the carrier takes responsibility for the goods only up to a specified point (still called the "place of delivery") and then passes responsibility to a second carrier for "on-carriage" to the "final destination".

WORD: Named (nominate) bill of lading

MEANING: A bill of lading providing for the delivery of the goods to a named person, without specifying "to order or assigns". The named consignee obtains delivery of the goods by surrendering one of the originals of the bill to the carrier or his agent. Although a document of title, the nominate bill of lading is not negotiable.

WORD: Negotiable bill of lading

MEANING: bill of lading transferred by endorsement. There are three possibilities: (1) to XY & Co. or their order; (2) to the order of XY & Co.; and (3) to order, without the name of the party. In the latter case the bill remains to the order of the shipper until he endorses it. These types of bills of lading are usually endorsed on the reverse. The opposite of a negotiable bill of lading is the straight bill of lading or non-order bill of lading.

WORD: Non negotiable bill of lading

MEANING: A bill of lading which is not capable of being used to transfer title in the goods described in it.

WORD: Ocean bill of lading

MEANING: bill of lading indicating that the exporter consigns a shipment to an international carrier for transportation to a specified foreign market. Unlike an inland B/L, the ocean B/L also serves as a collection. If it is a straight B/L, the foreign buyer can obtain the shipment from the carrier by simply showing proof of identity. If a negotiable B/L is used, the buyer must first pay for the goods, post a bond, or meet other conditions agreeable to the seller.

WORD: Ocean through bill of lading

MEANING: A bill of lading invoking a series of contracts to carry goods to a final destination by two or more successive ocean carriers. A ocean through bill of

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lading is a bill of lading whereby the issuer undertakes to be responsible for the carriage of goods by successive ocean carriers from the point of reception to final destination.

WORD: Omnibus bill of lading

MEANING: Another term for collective bill of lading.

WORD: On board bill of lading

MEANING: A bill of lading acknowledging that the relative goods have been received on board for shipment on a specified vessel.

WORD: On deck bill of lading

MEANING: An ocean bill of lading containing the notation that the goods have been loaded on the deck of the vessel.

WORD: Optional stowage bill of lading

MEANING: A bill of lading which gives the carrier the right to stow cargo wherever he sees fit, especially with respect to the stowage of containers on deck.

WORD: Order bill or Order bill of lading

MEANING: A bill of lading providing for delivery of the goods to the order of a specified person. It is negotiable by endorsement and delivery of the document to the endorsee, an order bill of lading may be negotiated by endorsement or by transfer.

WORD: Original bill of lading

MEANING: A document which requires proper signatures for consummating carriage of contract. Must be marked as "original" by the issuing carrier.

WORD: Outward bill of lading

MEANING: A bill of lading, where goods are actually being exported to another country and not to a port of the same country.

WORD: Port to port bill of lading

MEANING: bill of lading covering shipment by ocean only. The shipper/seller is responsible for transporting the goods to the port of loading and the buyer for picking the goods up at the port of discharge.

WORD: Received bill of lading

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MEANING: A bill of lading which acknowledges that goods have only been received for shipment, and does not state that goods are "shipped". There is no difference in law, although some banks will not accept received b/l's in support of documentary bills.

WORD: Received for shipment bill of lading

MEANING: A bill of lading evidencing that the goods have been received into the care of the carrier but not yet loaded. A bill of lading issued when goods have been received for shipment by a carrier or his agent but have not yet been loaded aboard the ship.

WORD: Reconciled bill of lading

MEANING: bill of lading set which has completed a prescribed number of edits between the shippers instructions and the actual shipment received.

WORD: Release a bill of lading (to)

MEANING: To provide the shipper with an original bill of lading, often in exchange for the freight.

WORD: Service bill of lading

MEANING: A contract of carriage issued by one carrier to another for documentary and internal control purposes.

WORD: Shipped bill of lading

MEANING: A bill of lading issued when the goods have been loaded on board the ship. This type of bill of lading, which must contain a reference to the goods having been shipped or shipped on board, is often required by banks who advance money using the bill of lading as collateral security and who wish to be satisfied that the goods are on board the ship.

WORD: Short form bill of lading

MEANING: A bill of lading on which the detailed conditions of transportation are not listed in full. A deviation from a regular bill of lading (long form) since it only refers to the contract terms but fails to include them.

WORD: Split bill of lading

MEANING: One of two or more bills of lading which have been split from a single bill of lading

WORD: Stale bill of lading

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MEANING: A late bill of lading in banking, a bill of lading which has passed the deadline time of the L/C and is void.

WORD: Straight bill of lading or Straight bill

MEANING: A bill of lading which stipulates that the goods are to be delivered only to the named consignee. A non-negotiable bill of lading which states that the goods are consigned or destined to a specified person. It is marked "non-negotiable" or "not negotiable" on its face.

WORD: Through bill of lading

MEANING: A single bill of lading covering receipt of the cargo at the point of origin for delivery to the ultimate consignee, using two or more modes of transportation

WORD: Thru bill of lading

MEANING: A bill of lading covering items moving from an origin point to a final destination point, assuring one carrier liability even though applicable handling, transport, carriage, etc. It may be performed by multiple service firms and modes of transportation.

WORD: Transshipment bill of lading

MEANING: bill of lading permitting cargo to be transshipped en route from one vessel to another to reach final destination.

WORD: Unclean bill or Unclean bill of lading

MEANING: A bill of lading that has been claused by the carrier to show that the goods were not in sound condition when received. A bill of lading containing one or more than one superimposed clause specifying a defect to the cargo or packing, noted at the time the goods are received by the ship.

WORD: Valued bill of lading

MEANING: A bill of lading where the value of the cargo has been declared by the carrier and "inserted in the bill of lading" under Article. 4(5) of the Hague Rules or art. 4(5)(a) of the Visby Rules.

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Golden Rules for the Master

Bills of Lading

The bill of lading is a record of the quantity of cargo and of its apparent order and condition at the time of shipment and, as such, is a vitally important document. Cargo damage or shortage claims can result from errors in the quantity and condition of cargo recorded on the bills of lading. The bill of lading also represents the cargo itself and possession of the original bill indicates who is entitled to receive the cargo at the discharge port. If you have any doubt about dealing with bill of lading problems, call the local P&I correspondent immediately.

General Procedures

Typical discrepancies with bills of lading:

– wrong port and date;

– quantity of cargo incorrect;

– description of cargo incorrect;

– condition of cargo incorrect.

• check the details on the bills against tally sheets, mate’s receipts, boat notes, draft surveys;

• note on the bills any details of damaged cargo, or short-delivered cargo, or any other discrepancies. (Guidelines on how to describe pre-shipment damage to steel cargoes is contained in the Club’s Guide to P&I Cover. If in doubt call the local P&I correspondent and ask for a surveyor).

It is not your job to decide whether the cargo is marketable, only to decide whether it is in apparent good order and condition, this is particularly relevant to steel cargoes.

Typical Problems

• shipper objects to the bills being claused - notify your owner or manager and P & I correspondent immediately;

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• if you suspect that the agents have signed bills on your behalf without checking the mate’s receipts or without noting on the bills any remarks which are in the mate’s receipts – inform your owner or manager immediately;

• the bill of lading is not presented at the discharge port by the person requesting delivery of the cargo - notify your owner or manager or the P&I correspondent immediately.

• never sign wrongly dated bills; never affix correction seal at the date column.

• never sign clean bills for damaged cargo or for cargo which is not in apparent good order and condition;

• never sign bills for cargo which has not been loaded;

• always call the P & I correspondent if you have any problem with the condition and quantity of cargo or with the bills of lading;

• never deliver cargo to a third party without presentation of the original bill;

• never discharge cargo against a letter of indemnity without your owner’s or manager’s or the Club’s agreement.

If it is agreed to retain one original bill of lading on board against which the cargo may be delivered, the shippers’/charterers’ instructions for procedures at the discharge port must be strictly followed. In such a case, to protect the shipowner from a claim for mis-delivery of the cargo, all original bills of lading should be endorsed as follows:

“One original bill of lading retained on board against which delivery of cargo may properly be made on instructions received from shippers/charterers.”

• always advise your owner or manager of any deviation which involves cargo discharge.

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Documents

Bill of Lading