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1. In simple terms, export bill collection means sending of export bills to overseas buyer through his bank to collect payment under export bills.
2. Where in export bill discounting, the exporter get amount from his authorized bank while submitting export documents.
3. Once after completion of necessary export procedures and formalities the exporter prepares necessary documents to send to his overseas buyer to take delivery of cargo.
4. This documents includes Commercial invoice, Packing list, certificate of origin, Bill of lading or Airway bill, bill of exchange, quality certificate, and other documents specifically mentioned by the buyer at the time of placing purchase order.
5. Once after preparing such export documents, the exporter submits them with his authorized bank to send to his overseas buyer.
6. If the exporter has a facility with his bank to discount export bills, he requests bank to discount the said export bills.
Оригинальное название
What is Transferability of Bill of Lading Can a Bill of Lading Be Transferred
1. In simple terms, export bill collection means sending of export bills to overseas buyer through his bank to collect payment under export bills.
2. Where in export bill discounting, the exporter get amount from his authorized bank while submitting export documents.
3. Once after completion of necessary export procedures and formalities the exporter prepares necessary documents to send to his overseas buyer to take delivery of cargo.
4. This documents includes Commercial invoice, Packing list, certificate of origin, Bill of lading or Airway bill, bill of exchange, quality certificate, and other documents specifically mentioned by the buyer at the time of placing purchase order.
5. Once after preparing such export documents, the exporter submits them with his authorized bank to send to his overseas buyer.
6. If the exporter has a facility with his bank to discount export bills, he requests bank to discount the said export bills.
1. In simple terms, export bill collection means sending of export bills to overseas buyer through his bank to collect payment under export bills.
2. Where in export bill discounting, the exporter get amount from his authorized bank while submitting export documents.
3. Once after completion of necessary export procedures and formalities the exporter prepares necessary documents to send to his overseas buyer to take delivery of cargo.
4. This documents includes Commercial invoice, Packing list, certificate of origin, Bill of lading or Airway bill, bill of exchange, quality certificate, and other documents specifically mentioned by the buyer at the time of placing purchase order.
5. Once after preparing such export documents, the exporter submits them with his authorized bank to send to his overseas buyer.
6. If the exporter has a facility with his bank to discount export bills, he requests bank to discount the said export bills.
What is transferability of bill of lading? Can a Bill of Lading be transferred?
1. Yes, Bill of lading is a negotiable instrument and a document of title.
2. As an exporter you should keep in mind that, without original bill of lading, the buyer can not take delivery of your cargo at destination. 3. Once Bill of Lading issued to the shipper by the ship owner or his agent at port of loading, the said original Bill of Lading (normally in triplicate) is submitted to shippers bank to send to the overseas buyer (consignee). 4. Transferability of Bill of Lading The foreign buyer, once after receiving the original bill of lading from the bank submit the Original Bill of Lading with the ship owner or his agent, duly endorsed on the back side of original bill of lading. 5. The ship owner or his agent deliver cargo to the consignee only after receiving the original bill of lading duly endorsed.
How does transferability take place in Bill of Lading?
1. The shipping company as a carrier of goods delivers cargo to the consignee or consignees order. 2. Means, if the bill of lading shows To order XYZ bank, the shipping company who carries goods can deliver the goods to the party whom XYZ bank instructs to deliver. 3. This Delivery instruction by XYZ bank has to be given in the form of Delivery Order to the carrier. 4. Delivery order can be in separate document or can be written on the back side of original Bill of Lading affixing the rubber stamp of XYZ Bank. 5. Once the ship owner or his agent (carrier of goods) receives the Delivery order to whom the cargo to be delivered from XYZ, the cargo is delivered to the said party. 6. If the consignee has been mentioned a party other than actual buyer, the consignee has to endorse the bill of lading to buyer by signing on back side of bill of lading authorizing the buyer to take delivery of goods