What are the differences between bill of lading and charter party bill of lading in terms of UCP 600 latest letter of credit rules? 
Under current letter of credit rules and international standard banking practices if credit calls for a marine bill of lading banks do not accept charter party bill of lading in lieu of a marine bill of lading. On this article I will try to answer the question “Why charter party bill of lading is not acceptable in place of a marine bill of lading?” In order to be doing this I need to clarify the main differences between charter party bill of lading and marine bill of lading.

 





























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Examples of Charter Party Clauses: Below indications could turn a marine bill of lading into a charter party bill of lading.
  • "Prepayable freight paid as per charter party dd. …"
  • "Freight payable as per charter party dd. …"
  • "Freight as agreed" 
  • "Bill of lading to be used with charter parties"  Source : www.commerzbank.com
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Differences between charter party bill of lading and marine bill of lading:
1.Charter Party Clause: Charter party bill of lading contains a clause stating that it is subject to a charter party. Marine bill of lading does not contain such a clause or similar wording.
2.Signatures: 
Marine bills of lading can be signed by 
  • the carrier or a named agent for or on behalf of the carrier, or
  • the master or a named agent for or on behalf of the master.
Charter party bills of lading can be signed by the;
  • the master or a named agent for or on behalf of the master, or
  • the owner or a named agent for or on behalf of the owner, or
  • the charterer or a named agent for or on behalf of the charterer.
3.Usage: Charter party bills of lading will be used mainly for big bulk shipments such as 20.000mtons of soybean transportation from US port to Chinese port. Marine bills of lading mostly used for containerized cargo that is transported by regular line container vessels.