What is BILL OF LADING (B/L)
Bill of Lading, abbreviated as B/L.
Issued by carrier, it is a negotiable instrument and serves the 3 purposes below:
1. Receipt for the goods shipped
2. Evidences the contract of carriage
3. Document of title, i.e. ownership.
Elements of B/L.
Booking No./Bill of Lading No.
Place of Receipt
Port of Loading
Port of Discharge
Place of Delivery
Marks & Numbers
Quantity and type of packages
Description of goods
Others (Quantity of containers or packages, date on board, date of issue, place of issue, number of originals, carrier agent, etc)
How soon will the original B/L be issued?
The carrier will issue B/L once the vessel departs. Obviously they will not send to you before payment’s done. Payment may take 1 day or 2 to arrive, to courier the document domestically takes 1 day. Let’s say, 3 days.
The supplier is supposed to receive B/L in 3 days, then they can arrange international courier to send the doc abroad, which may take 2-5 days.
Original or Telex Release?
Telex released B/L, aka surrendered B/L, which signifies that a message has been sent or updated in the shipping line system that, the shipper/exporter has surrendered the original B/L (normally for faster release of shipment), and the shipment can be released to the consignee without presentation of original B/L.
Telex release is often used when the distance is short, transit time is short, and delivery the document by courier will even delay the clearing process at destination port.
It’s annoying and costly if the original gets lost, but telex release is simple and convenient.