There are two types of bills of lading circulating around the globe in terms of pre-printed notifications:
- Received for shipment bills of lading: Goods have been received by the carrier but not on board of a named vessel.
- Shipped on board bills of lading: Goods have been received by the carrier and laden on board of a named vessel.
Received for Shipment Bill of Lading:
This bill of lading states that goods are received by the carrier in apparent good order.
Unless received for shipment bill of lading contains an additional “on board notation”, it does not confirms that the goods have been shipped on board to a named vessel.
Traditionally, received for shipment bills of lading does not give enough assurance to the banks in letter of credit, bank guarantee or standby letter of credit transactions.
Banks prefer to have a pre-printed shipped on board bills of lading.
Alternatively received for shipment bill of lading can be accepted with an “On Board Notation“.
Received for Shipment Bill of Lading Example:
Received for shipment bills of lading clause can be seen on the face of the bill of lading generally at the right bottom side of the page.
Without an additional on board notation, received for shipment bill of lading does not confirm that goods shipped on board a named vessel.
RECEIVED by the Carrier from the Shipper in apparent good order and condition unless otherwise indicated herein, the Goods, or package(s) said to contain the Goods, to be carried subject to all the terms and conditions herein.
Pre-Printed Shipped Bills of Lading:
Pre-printed shipped bills of lading not only confirm that goods have been received by the carrier, but also they have been shipped on board of a named vessel.
Banks accept pre-printed shipped bill of lading in trade finance transactions such as under commercial letters of credit, bank guarantee or standby letter of credit operations.
Pre-Printed Shipped Bill of Lading Example:
Pre-printed shipped bills of lading clause can be seen on the face of the bill of lading generally at the right bottom side of the page.
Pre-printed shipped bill of lading will be accepted by banks under most trade finance solutions.
Pre-printed shipped bill of lading confirms that goods shipped on board a named vessel as required by the letter of credit rules.
SHIPPED, as far as ascertained by reasonable means of checking, in apparent good order and condition unless otherwise stated herein, the total number or quantity of Containers or other packages or units indicated in the box entitled “Carrier’s Receipt” for carriage from the Port of Loading (or the Place of Receipt, if mentioned above) to the Port of Discharge (or the Place of Delivery, if mentioned above), such carriage being always subject to the terms, rights, defenses, provisions, conditions, exceptions, limitations, and liberties hereof (INCLUDING ALL THOSE TERMS AND CONDITIONS ON THE REVERSE HEREOF NUMBERED 1-26 AND THOSE TERMS AND CONDITIONS CONTAINED IN THE CARRIER’S APPLICABLE TARIFF) and the Merchant’s attention is drawn in particular to the Carrier’s liberties in respect of on deck stowage (see clause 18) and the carrying vessel (see clause 19).
|Letter of Credit Consultancy|
|Letter of Credit Consultancy:|
Struggling with letters of credit. We can help. We check the credits, prepare draft documents and control them before presentation. With competitive prices. 10 years of experience, more than 300 hundred references. Please click here for more details.