When cargo moves under a Negotiable status, it is the forwarder’s responsibility to ensure it is surrendered to the appropriate authority to obtain possession. Originals Bills of Lading (negotiable) must be endorsed by the consignee (buyer) when being transferred to a third party such as a freight forwarder and much like a cheque that is made out to a specific party. Non-negotiable Bills are in effect copies of the originals but have no power over the title of the goods. By doing this, the consignee is unable to access their goods until payment has been made and the Bill of Lading released.Īn Original Bill of Lading is a negotiable and legal document as it represents the title of the goods. In some cases, the shipper can hold the original bill until they receive payment. *Only the consignee listed on the Bill of Lading has contractual rights to request for the release of the cargo.īills of lading also make sure that the shipper is paid In this sense, it is evidence of the confirmation of delivery. The consignee* listed will need to present the Bill of Lading in order to secure the release of the shipment by the carrier and claim ownership. Once the goods have arrived at their destination, the Bill of Lading acts as a title to the goods. They are legally binding documents, and they often serve as proof of ownership over the goods being carried.Ī bill of lading also covers its role as the title to goods. BoLs must be issued for goods to travel from Point A to Point B. Shipments cannot be executed without a Bill of Lading. “I would be surprised if they weren’t drawn into some of the bigger cases, going forward.A bill of lading can represent a receipt of goods. “If that’s the provider of (live telemetry or digital eBL) technology, and I, or somebody else knows they have that data, they’re going to get pulled into litigation. “It comes back to the matter of who owns the data,” he said. I think there would still be willingness to do that.”īut Mr Yarwood warned that technology companies looking to get into the maritime industry might end up with more responsibility than they bargained for. Whether it would discourage bad actors - I’m not convinced. If we combine machine learning, constantly update those keywords and descriptors, the systems have the ability to become ever-more refined. He added: “It probably makes things a little more transparent. “With data in digital form, it will be easier to interrogate.” Having a digitalised dataset would expose these to greater scrutiny, Mr Yarwood said. ![]() Various shipping lines – including Hapag Lloyd - are working on machine-learning algorithms which seek out suspicious keywords and descriptors, the markers of potentially misdeclared cargo. Yarwood said there was a likelihood that digitalising the bill of lading would have benefits for transparency. Earlier this week, Digital Container Shipping Association (DCSA) introduced the final phase of its electronic bill of lading (eBL) proof of concept (PoC), which aims to have a fully interoperable standardised eBL document. Meanwhile, developments in digitalisation are speeding up. Yarwood explained: “In some of the fires, it’s very difficult to pinpoint where the fire originated from… in catastrophic cases millions of dollars are spent by various parties trying to determine this.” Mr Yarwood said that the MSC Flaminia was a good example of this, wherein a tank container was already increasing in temperature at the time it was loaded.īut telemetry also poses benefits for insurers after the fact, in terms of allocating liability, Mr. “Under deck, you might have a fire incident developing, known to nobody until smoke starts billowing out from under the hatch covers.” Ships have smoke detection systems… but by the time smoke is coming out of the container, it is often too late,” explained TT Club’s loss prevention MD Mike Yarwood. “As an incident starts to unfold, having that early warning is crucial in terms of firefighting. The ability to measure changes in temperature in real time potentially overcomes one of the main problems shipping lines have been struggling with for a long time – the early detection of, and tackling of, fires inside containers. Container shipping could be on the cusp of a new era of safety and transparency, thanks to a combination of container-telemetry devices, and electronic bills of lading (eBLs), leaving less room to hide for shippers misdeclaring their cargoes.
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