Straight Bill of Lading (Non-Negotiable Sea way BL):
- It’s a Non-negotiable B/L
- The title of the goods is conferred directly to a party named (usually importer’s name) in the LC.
- The title of the goods is not transferable to any other party by endorsement
- It is not considered being good B/L from bank’s point of view.
- It’s a negotiable B/L
- The title of the goods is conferred to the order of shipper or to the order of a party named (usually the issuing bank’s name) in the LC.
- The title of the goods is transferable to any other party.
On Deck B/L:
- It says that the goods have been loaded on the deck of the vessel
- If a cargo is kept in the container & place on the deck, it is called on board b/l.
- It’s a good form of b/l.
On Board B/L:
- It says that the goods have been received in good order & in good conditions
- The goods have been put on board of the vessel
- It’s one of the best forms of b/l
Received for Shipment B/L:
- The B/L which serves only as a receipt for goods accepted for shipment
- It does not certify their placement aboard the vessel
- It is used where the goods arrive at the port of departure before the vessel does.
- This type of B/L is not considered a complete B/L & is replaced by a shipped on board B/L when the goods do go abroad
- It is issued by carrier declaring that goods have received in an appropriate condition without any defects
- A B/L with a notation that indicates damage or shortage.
- Most banks or other institutions which finance the shipment refuses to accept or honor caused b/l
Freight Prepaid B/L:
- It indicates that the freight will be payable by the exporter.
Freight Payable B/L:
- It indicates that the freight will be payable by the buyer.
Third Party / Switch B/L:
- A contract of carriage that can be transferred to a third party
Sri Lanka ———India———–UK
(Consignor) (Exporter) (Buyer)
Here, Indian party before exporting it to the UK, import the goods from Sri Lankan exporter. After receiving the B/L from the SL exporter, Indian (Exporter) goes to the shipping agency of the SL party (In India’s office & change the SL consignor name to his company name)
- If within 21 days, B/L is not submitted to the bank, then it is termed as Stale B/L.
- LASH stands for Lighter Aboard Ship. Lash vessel is actually barged that can be used in places that regular cargo ships cannot go due to their size & weight.
- It indicates that the transportation of goods from one country to another country by other means than the sea.
- It is used where country is known as LAND LOCKED COUNTRY (EUROPEAN COUNTRY)
- It is used when one knows that the same vessel that picked up the cargo will deliver it to its final destination.
- It allows the transportation of goods both within domestic borders & through international shipment. Here, multiple modes of transport & carriers are involved. It is not considered to be good b/l from bank’s point of view.
MMTO / CTD (Multimodal Transport Operator B/L or combined transport document B/L):
- MMTO/CTD has transported documents covering transport by more than one mode of transport.
- Here, consignor enters into a single contract with the transport party.
- Transport party undertakes the whole or complete responsibility of the commodity or product from source to destination
- A document which gives information about the goods being transported in a container or containers from one port to another.
Custody & Port B/L:
- A b/l issued by warehouses as a receipt of goods stored.
Charter Party/ Steamship B/L:
- B/L issued by the charterer, & not by the owner of the ship (vessel) transporting the ship
- Charter party B/L are subject to charter party agreements between charter & the owner of the ship or vessel.
- As a result, owner of the ship often have the right to claim to the cargo aboard the ship (in case of dispute with the charter)
- For the above reason, banks generally refuse to accept such B/Ls as a collateral for loans
Note: Hiring a vessel is called as “charter party” in maritime terminology
Short / Long B/L:
- If T&C are not mentioned on the back side, it is short B/L & if mention, then it is long B/L