Original Bill of Lading vs. Sea Waybill | Original bill of lading
Therearetwoprimarytypesofdocumentsthatmovealloceancargo:originalbillsofladingandseawaybills.Whataretheprosandconsofeach?Letstakealookbelow. Thewrongtypeofoceantransportationdocumentcancauseseriousconsequencesinacompany’ssupplychainandcaninadvertentlyincreasefinancialexposure.Choosingthecorrecttypeofdocument,conversely,cangoalongwaytowardensuringastreamlinedandsecuresupplychain.ORIGINALBILLOFLADING(BOL)Threemainfunctions:1)ReceiptoftheGoodsActsasthereceiptofgoodsshippedIdentifiesthegoods,piec...
There are two primary types of documents that move all ocean cargo: original bills of lading and sea waybills. What are the pros and cons of each? Lets take a look below.The wrong type of ocean transportation document can cause serious consequences in a company’s supply chain and can inadvertently increase financial exposure. Choosing the correct type of document, conversely, can go a long way toward ensuring a streamlined and secure supply chain.
ORIGINAL BILL OF LADING (BOL)Three main functions:
1) Receipt of the GoodsActs as the receipt of goods shipped Identifies the goods, pieces, and weight2) Contract of Carriage
Serves as a contract between shipper and carrier3) Document of Title
Possession of the goods determined by possession of the document If the original BOL is made out “to the order of” a named party (a “negotiable” BOL), it also confers title or ownership to the goods specifi...