Get the free rosenau bol form

Hi everyone in this video I'll be talking about what is a bill of lading what are the types of bill of lading and I will be also showing you samples of bill of lading firstly we will be looking at how a bill of lading works in international trade in this diagram we have the seller on the left and the buyer on the right both parties have entered into a sales and purchase contract for the sale and purchase of goods I have addressed the different methods of payment in international trade in a previous video in this channel the link to the video is down in the description box below once the contract is signed depending on the method of payment used the seller ships out the goods via the shipping agent Music the shipping agent will then issue two sets of documents this the original negotiable bill of ladings and non-negotiable Bill of Lading non-negotiable bill of lading is not signed whilst the original bill of lading is signed here's a sample of the negotiable Bill of Lading and the non-negotiable Bill of Lading so what is a Bill of Lading according to 1907 House burn laws of England a bill of lading is a document signed by the shipowner or by the master or other agent of the shipowner which takes a certain specified goods have been shipped in a particular ship which purports to set up the terms on which the goods have been — and received by the ship after the signature it is handed to the shipper who may either retain it or transfer it to the other person the seller forwards the shipping documents and bill of lading to the buyer forwarded the BL to the shipping agent which issues the delivery order to the port for the release of the goods the shipping agent handed the ghost over to the buyer next we will look at the function of the bill of lading the bill of lading acts as a receipt for goods the seller has passed on valuable goods to the shipping agent the bill of lading acts as a form of receipt that the shipping agent received the goods as you can see in this document over here this is the container of goods specified on the bill of lading the second function is the bill of lading is an evidence of contract of carriage the bill of lading is a contract between a shipper and the carrier it outlines the shipping method and terms for transporting the goods from origin to his destination as per the terms of a sales contract signed between the buyer and the seller as you can see in this bill of lading this particular red box highlighted is the evidence of contract of carriage from the part of loading in Port Slang to the port of destination in the felixstowe the bill of lading is also a document of title to the goods in order for the name consign II to take delivery of the goods he must surrender at least one original bill of lading to the shipping agent at the end important point to note is that when a bill of lading is issued it is issued normally in three original copies so why is that three original bills of lading copies is being issued this is...