Bill of Lading and Telex Release | Telex Release vs surrender BL
AnoriginalBillofLadingisapaperbillofladingissuedtoacustomerwhereasaTelexReleaseisanelectronicreleaseissuedinreturnforthesurrenderofanoriginalBillofLading.Definition:WhatisaBillofLading?Abilloflading(B/L)isoneofthekeydocumentsinthewholedocumentarychainofseafreight[1].Contrarytopopularbelief,abillofladingisneitheracontractbetweenthesellerandthebuyernoracontractofcarriagebetweenthecarrierandshipper.Itis:EvidenceofContractofCarriageReceiptofGoodsandDocumentofTitletothegoodsOneofthemostimportanta...
An original Bill of Lading is a paper bill of lading issued to a customer whereas a Telex Release is an electronic release issued in return for the surrender of an original Bill of Lading.
Definition: What is a Bill of Lading?A bill of lading (B/L) is one of the key documents in the whole documentary chain of sea freight[1].
Contrary to popular belief, a bill of lading is neither a contract between the seller and the buyer nor a contract of carriage between the carrier and shipper. It is:
Evidence of Contract of Carriage Receipt of Goods and Document of Title to the goodsOne of the most important aspects of an Original Bill of Lading is that it can be used as a negotiable instrument for payments between a buyer and seller using a Letter of Credit.
Different TypesA B/L comes in different forms, which we will explain here:
Straight Bill of Lading Order Bill of Lading or Negotiable Bill of Lading Seaway Bill of Lading Straight Bill of LadingWhen ...