{"id":45745,"date":"2022-07-29T10:53:44","date_gmt":"2022-07-29T05:23:44","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=45745"},"modified":"2022-07-29T11:29:46","modified_gmt":"2022-07-29T05:59:46","slug":"different-types-of-bill-of-lading-bol","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/different-types-of-bill-of-lading-bol\/","title":{"rendered":"What are the Different Types of Bill of Lading (BoL)? &#8211; An Overview"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Bill of Lading is a vital document in the shipping industry to understand its meaning &amp; implications for operation better. The bill is used as a shipment receipt when the carrier delivers products at the predetermined destination. <strong>The Bill of Lading<\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Bill_of_lading\"><strong>[1]<\/strong><\/a><\/sup> has also indicated the carrier through which the products have been placed to reach their destination and the conditions required to transport the shipment. There are 16 various types of Bill of Lading, with each being in particular situations for a specific function. In this write-up, we will discuss various types of Bill of Lading.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/different-types-of-bill-of-lading-bol\/#Importance_of_Bills_of_Lading\" >Importance of Bills of Lading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/different-types-of-bill-of-lading-bol\/#What_is_the_Primary_Purpose_of_the_Bill_of_Lading\" >What is the Primary Purpose of\nthe Bill of Lading?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/different-types-of-bill-of-lading-bol\/#Types_of_Bill_of_Lading\" >Types of Bill of Lading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/different-types-of-bill-of-lading-bol\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Importance_of_Bills_of_Lading\"><\/span>Importance of Bills of Lading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before we\ndiscuss different types of Bill of Lading, lets first discuss the importance of\nBill of Lading. A BoL is one of the most vital documents in the shipping\nindustry or business. It&#8217;s a legally binding document providing the driver\n&amp; the carrier with all the information required to process the freight\nshipment &amp; invoice it correctly. <\/p>\n\n\n\n<p><strong>However, a Bill of Lading also serves 3 important duties:<\/strong><\/p>\n\n\n\n<ol><li><strong>Receipt\nof Goods<\/strong>: A Bill of Lading is a document that verifies that products\nhave been received by an agent, 3PL, carrier, or others from one party. When\nthis occurs, in most instances, the organisation or company that takes\npossession of the commodity is accountable for its condition. This bill\nprovides a paper trail of evidence to support shipping damage claims.<\/li><li><strong>Evident\nof Carriage or Shipment<\/strong>: While it is often assumed that a Bill of\nLading is simply a contract between the buyer &amp; seller, this is not\ncompletely correct. The contract exists when the order is placed-not shipped.\nThe BoL provides evidence that the earlier agreed-upon purchase is being\ntransmitted as agreed upon.<\/li><li><strong>Title\nDocumentation<\/strong>: This means that whoever holds the Bill of Lading\nhas the title for possession or ownership of the products. This is why the\nshipper &amp; recipient are both noted on the Bill of Lading.<\/li><\/ol>\n\n\n\n<p>Using a\nBill of Lading is vital not only to protect the assets of a Shipper but also to\nprovide specifics for a carrier to ensure safe &amp; efficient delivery of\nproducts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Primary_Purpose_of_the_Bill_of_Lading\"><\/span>What is the Primary Purpose of\nthe Bill of Lading?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It&#8217;s a\ndocument meant to act as a transport document enacting as the evidence of the\ncontract of carriage of the products. A negotiable BoL (Bill of Lading) has the\nfollowing legal qualities:<\/p>\n\n\n\n<ol><li>It represents a receipt which endorses that the\ncarrier has received the cargo as per the products and the contract is received\nin good condition.<\/li><li>It&#8217;s a document of title permitting the sale of\ngoods in transit and raising financial credit.<\/li><li>Bill of Lading acts as a piece of evidence for the\ncarriage contract containing the terms &amp; conditions under which the\nproducts or goods transportation will be carried out.<\/li><li>Most of the local &amp; international system\ndoesn&#8217;t consider a Bill of Lading as a title document. It also provides the\nright for the delivery to be made to the possessor.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Types_of_Bill_of_Lading\"><\/span>Types of Bill of Lading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Following\nare different types of Bill of Lading:<\/p>\n\n\n\n<ol><li><strong>Claused\nBill of Lading<\/strong>: This is issued when the cargo is damaged or when\nthe quantity goes missing.<\/li><li><strong>Master\nBill of Lading<\/strong>: This is one of the important types of Bill of\nLading, it&#8217;s a document that is issued for shipping companies or entities by\ntheir carriers as a receipt of transfer. This document specifies the terms that\nare needed for transporting the freight, details of the shipper or consignor,\nthe consignee &amp; the respective person who possesses the products.<\/li><li><strong>State\nBill of Lading<\/strong>: It is presented for negotiation after 21 days\nfrom the shipment date or any other date or number of days stipulated in the\ndocumentary credit.<\/li><li><strong>Order Bill\nof Lading<\/strong>: This is the bill that expresses words that make the bill negotiable\nand this explains that the delivery is to be made to the further consignee&#8217;s\norder using terms such as delivery to A Limited to assigns or order.<\/li><li><strong>Surrender\nBill of Lading<\/strong>: It works under the term import documentary\ncredit, where the bank releases documents on receipt from the negotiating bank.\nThe importer doesn&#8217;t make the payment to the bank until the maturity of the\ndraft under the relative credit.<\/li><li><strong>Charter Party\nBill of Lading<\/strong>: It\u2019s an agreement between a vessel owner &amp; a\ncharter. The charterer of the vessel issues this to the shipper for the\nproducts that are shipped on board the vessel.<\/li><li><strong>Container\nBill of Lading<\/strong>: This is a document that gives details regarding\nproducts that are delivered in a safe container\/containers from one port to\nanother.<\/li><li><strong>Clean\nBill of Landing<\/strong>: This bill is issued by the Shipping Company\/by\nits agents without any declaration on the imperfect constitution of the\nproducts or packages taken on Board or stuffed in containers.<\/li><li><strong>House\nBill of Lading<\/strong>: This is a document issued by an Ocean Transport\nIntermediary freight forwarder or non-vessel operating company. This document\nis an acknowledgement of the receipt of products that are shipped and issued to\nthe suppliers when the cargo is received. This is also known as the Forwarders\nBill of Lading.<\/li><li><strong>Straight Bill of Lading<\/strong>: This\nindicates that the products are consigned to a specific individual and it is\nnot negotiable free from the existing equities. That means that an endorsement\nacquires no better rights other than those that are held by the endorser. This\nbill is also known as non-negotiable Bill of Lading. Whereas, from the\nperspective of a banker, this is one of the types of Bill of Lading which is\nnot safe.<\/li><li><strong>Bearer\nBill of Lading<\/strong>: This is a bill that states that the delivery\nshall be done by whosoever holds the bill. These bills are particularly created\nor it is an order bill that doesn&#8217;t nominate the consignee in its original form\nor via an endorsement in blank. A bearer can be negotiated by physically\ndelivering it.<\/li><li><strong>Short-term or Blank Back Bill of Lading<\/strong>: This is\nissued when the detailed terms &amp; conditions of the carriage contract are\nnot provided on the body of the BoL or on the back side of the bill.<\/li><li><strong>Stale Bill of Lading<\/strong>: It is\npresented for negotiation after 21 days from the date of shipment or any other\ndate or number of days specified in the documentary credit.<\/li><li><strong>Received for Shipment Bill of Lading<\/strong>: This is\na document that is issued by a carrier as an evidence of receipt of goods or\nproducts for shipment. It is granted prior to the vessel loading and is\ntherefore not an on-board Bill of Lading.<\/li><li><strong>Combined Transport Document or Multi-Modal\nTransport Document<\/strong>: It\u2019s a type of Through Bill of Lading that\ninvolves a minimum of 2 different transport modes (ocean or land).<\/li><li><strong>Forwarder Bill of Lading<\/strong>: It&#8217;s a\ntransport document, which is used in sea shipments &amp; multi-modal shipments,\nissued &amp; signed by a Freight Forwarder, usually on a freight forwarder&#8217;s\nBill of Lading format, evidences the terms &amp; conditions of the carriage of\nproducts or goods as specified by the freight forwarder. <\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A Bill of Lading (BoL) is an essential document that helps supply chain members move cargo efficiently. There are various types of Bill of Lading documents &amp; each is used for a particular purpose. So, it is important to understand how &amp; when to use these types of Bill of Lading so you can increase the efficiency of your logistics program. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our Article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-start-export-business-from-india\/\">How to Start Export Business in India?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bill of Lading is a vital document in the shipping industry to understand its meaning &amp; implications for operation better. The bill is used as a shipment receipt when the carrier delivers products at the predetermined destination. The Bill of Lading[1] has also indicated the carrier through which the products have been placed to [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":45746,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[128],"tags":[2538],"acf":{"service_id":"103"},"authorName":"Karan Singh","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/processed-1-150x150.jpeg","authorDescription":"A legal writing enthusiast, a wanderer, and a zealous reader. After gaining a lot of knowledge about the diverse legal topics and developing research skills, Karan joined the league of legal content writers to deliver quality-rich blogs.","postViews":4465,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/45745"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=45745"}],"version-history":[{"count":10,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/45745\/revisions"}],"predecessor-version":[{"id":45756,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/45745\/revisions\/45756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/45746"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=45745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=45745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=45745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}