Can a negotiable bill of lading be telex released..?? | Express bill of Lading vs Telex release
Maybebecauseitisoneofthemostimportantdocumentsinglobaltrade,therealwaysseemstobeadegreeofuncertaintyaroundabillofladingandquestionssuchasthis..Manypeoplehavedoubtsregardingwhichbillofladingtoissue,howmanytoissue..TherearealsoquestionssuchaswhatisaTelexRelease[1],howitworksandunderwhatcircumstancesaTelexReleasemaybeissued..Inthisparticularpost,IwillcoverthecircumstancesunderwhichaTelexReleasemaybeissuedandwhetheratelexreleasecanbeactionedonanegotiablebilloflading..Tostartoffwith,letmejogyourm...
Maybe because it is one of the most important documents in global trade, there always seems to be a degree of uncertainty around a bill of lading and questions such as this..
Many people have doubts regarding which bill of lading to issue, how many to issue..
There are also questions such as what is a Telex Release[1], how it works and under what circumstances a Telex Release maybe issued..
In this particular post, I will cover the circumstances under which a Telex Release maybe issued and whether a telex release can be actioned on a negotiable bill of lading..
To start off with, let me jog your memory a bit on the functions of a bill of lading and the types..
A Bill of Lading[2] (B/L), is a transport document that has 3 basic functions or roles..
Evidence of Contract of Carriage Receipt of Goods and Document of Title to the goodsBased on the above roles, there are a few variations of the B/L (let’s call it Types), important amo...