How significant is the form of a bill of lading or an air waybill?
The form of a bill of lading or an air waybill instructs the carrier on how to handle or disburse the goods that the carrier is transporting when the carrier reaches its destination. If the bill of lading is in negotiable form, i.e. “order of the shipper”, the carrier will hold the goods until it receives an original bill of lading that has been endorsed by the shipper (seller). If the bill of lading is in non-negotiable or straight form and consigned to the buyer, the carrier will release the goods to the buyer on the buyer’s identification of itself as the buyer. If on the other hand, the bill of lading is in non-negotiable or straight form and consigned to a third party, such as the buyer’s bank, the carrier will release the goods as instructed by the third party consignee in a “release” (steamship guarantee or airway release) issued by the third party consignee to the carrier.
The form of a bill of lading or an air waybill instructs the carrier on how to handle or disburse the goods that the carrier is transporting when the carrier reaches its destination. If the bill of lading is in negotiable form, i.e. “order of the shipper”, the carrier will hold the goods until it receives an original bill of lading that has been endorsed by the shipper (seller). If the bill of lading is in non-negotiable or straight form and consigned to the buyer, the carrier will release the goods to the buyer upon presentation of the buyer’s identification. If, on the other hand, the bill of lading is in non-negotiable or straight form and consigned to a third party, such as the buyer’s bank, the carrier will release the goods as instructed by the third party consignee in a “release” (steamship guarantee or airway release) issued by the third party consignee to the carrier.
• The form of a bill of lading or an air waybill instructs the carrier on how to handle or disburse the goods that the carrier is transporting when the carrier reaches its destination. If the bill of lading is in negotiable form, i.e. “order of the shipper”, the carrier will hold the goods until it receives an original bill of lading that has been endorsed by the shipper (seller). If the bill of lading is in non-negotiable or straight form and consigned to the buyer, the carrier will release the goods to the buyer on the buyer’s identification of itself as the buyer. If on the other hand, the bill of lading is in non-negotiable or straight form and consigned to a third party, such as the buyer’s bank, the carrier will release the goods as instructed by the third party consignee in a “release” (steamship guarantee or airway release) issued by the third party consignee to the carrier.
Related Questions
- Must a paper copy of the air cargo manifest (CBP Form 7509) and the air waybill documents be presented to CBP in paper format upon arrival of the aircraft?
- Will a more comprehensive check in/check out system at the ports of entry cause significant delays at the air and sea ports of entry?
- How significant is the form of a bill of lading or an air waybill?
