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An electronic bill of lading (or eB/L) is the legal and functional equivalent of a paper bill of lading. [27] An electronic bill of lading must replicate the core functions of a paper bill of lading, [28] namely its functions as a receipt, as evidence of or containing the contract of carriage and as a document of title. [citation needed]
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.
Modern freight forwarders offer an end-to-end process i.e. shipping the goods from the place of origin to the final destination and may offer additional services such as warehouse planning, cargo insurance and customs brokerage. [7] In a single transaction, the forwarder may be acting as a carrier (principal) or as an agent for his customer or ...
Co-brokering is a legal practice used to ensure there is an available truck to transport freight. A 4PL may use a 3PL broker to match loads with trucks, with a shippers knowledge. The primary broker will take a lesser amount of the fee and the secondary broker will book the load for transport receiving a larger share of the same fee. [7]
By comparison, a shipment of canoes, which were not packaged for shipment, would be light but would take up a large volume, ensuring the customary freight unit would be the measurement ton of 100 cubic feet (2.8 m 3). If a canoe were 2 feet (0.61 m) wide by 2 feet (0.61 m) high by 10 feet (3.0 m) long (0.6 m x 0.6 m x 3 m), its measurement ...
In order to obtain a license to broker freight, a freight brokerage must purchase a surety bond or trust agreement with the Federal Motor Carrier Safety Administration (FMCSA). [3] Prior to June 2012 when the bill was signed by President Obama, the surety bond coverage required to hold a broker license was $10,000.
In general, a bill of lading serves as a legal instrument focusing on and documenting such issues as ownership, whereas a cargo manifest is often more concerned with physical aspects of the cargo, such as weight and size. When the cargo is being shipped by several different shipping companies on the same vessel, there will usually be separate ...
By contrast, the shipper has fewer obligations (mostly implicit), namely: (i) to pay freight; (ii) to pack the goods sufficiently for the journey; (iii) to describe the goods honestly and accurately; (iv) not to ship dangerous cargoes (unless agreed by both parties); and (v) to have the goods ready for shipment as agreed; (q.v."notice of ...
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