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An order bill of lading is used when shipping merchandise prior to payment, requiring a carrier to deliver the merchandise to the importer, and at the endorsement of the exporter the carrier may transfer title to the importer. Endorsed order bills of lading can be traded as a security or serve as collateral against debt obligations. [21]
A bill of lading is a legal document used in the transportation industry between a shipper of a particular good and a carrier detailing the type, quantity and destination of the good being transported. This document must accompany the shipped goods and be signed by an authorized representative from the carrier and the shipper.
After being amended by the Brussels Amendments (officially the "Protocol to Amend the International Convention for the Unification of Certain Rules of Law Relating to Bills of Lading") in 1968, the Rules became known colloquially as the Hague–Visby Rules. A final amendment was made in the SDR Protocol in 1979.
When the cargo is being shipped by several different shipping companies on the same vessel, there will usually be separate bills of lading for each company, but only a single consolidated cargo manifest. On the other hand, if the cargo contains dangerous goods, there may be a separate dangerous cargo manifest. A manifest can be exchanged for ...
The Hague Rules of 1924 (formally the "International Convention for the Unification of Certain Rules of Law relating to Bills of Lading, and Protocol of Signature") [1] is an international convention to impose minimum standards upon commercial carriers of goods by sea.
It is the U.S. enactment of the International Convention Regarding Bills of Lading, commonly known as the "Hague Rules". It was found in Title 46 Appendix of the United States Code, starting at Section 1301, but has been moved to a note in 46 United States Code 30701. [2]
Consignees (or indeed any lawful holder of the bill of lading) [6] who wishes to make a cargo claim because their goods are substandard or have been lost or damaged at sea, typically have four options: They may sue the seller, the shipper, or the carrier; or they may claim from their own insurance policy.
In the UK there are conflicting obiter dicta in "The Rafaela S" [2003] 2 Lloyd's Rep. 113 and "The Happy Ranger" [2002] 2 AER (Comm) 23, so the matter must remain unclear even though there are serious problems, for example, arising from the everyday occurrence of cargo being discharged against letters of indemnity when original bills of lading ...