The document under which cargo is carried on board vessels is a bill of lading, and may be defined as a receipt for goods, signed by the master or other duly authorized person on behalf of the shipowner, and constitutes a document
of title to the goods specified therein. lt has 3 important functions: a receipt for goods signed by the shipping company and given to the shippers; a contract of carriage between the shipping company and shippers; and a document of title. The
form is filled by the shippers when they have all the details of the goods. Then it is sent to the ship where an officer of the shipping company checks that the goods are in good order and condition and signs the bill when the goods are loaded
onto the ship. One copy of the bill is kept for thc ship, the other copies are sent to the exporters or their bank. These negotiable Bill of Lading are used for payment. They are sent to the buyers or their agents in the importing country. Then the
bills and other shipping documents are presented to the shipping company when the ship arrives. The shipping company can then compare the negotiable bills with their copy on the ship. ln this way the importers can show their legal right to the
goods and obtain them from the ship.
This document contains complete details of the order as on the Bill of Lading and also shows the terms of shipment and payment, the value of the order and details of insurance. lt functions mainly as a record of the export transaction
for buyers, sellers and the customs officials. The bank needs it together with the Bill of Lading and the insurance certificate to give payment. Copies of the invoice are used by the exporters, the exporter's bank, the paying bank, the receiving
agents at the port of discharge, the customs in the exporting and importing countries and the importers.
Air waybills are receipts and evidence of contracts of carriage. Three copies of the air waybills are completed, one each for the shipper, the carrier and the consignee. The consignee must have the air waybill number to collect the
goods from the airline.
The document under which cargo is carried on board vessels is a bill of lading, and may be defined as a receipt for goods, signed by the master or other duly authorized person on behalf of the shipowner, and constitutes a document of title to the goods specified therein. lt has 3 important functions: a receipt for goods signed by the shipping company and given to the shippers; a contract of carriage between the shipping company and shippers; and a document of title. The form is filled by the shippers when they have all the details of the goods. Then it is sent to the ship where an officer of the shipping company checks that the goods are in good order and condition and signs the bill when the goods are loaded onto the ship. One copy of the bill is kept for thc ship, the other copies are sent to the exporters or their bank. These negotiable Bill of Lading are used for payment. They are sent to the buyers or their agents in the importing country. Then the bills and other shipping documents are presented to the shipping company when the ship arrives. The shipping company can then compare the negotiable bills with their copy on the ship. ln this way the importers can show their legal right to the goods and obtain them from the ship. This document contains complete details of the order as on the Bill of Lading and also shows the terms of shipment and payment, the value of the order and details of insurance. lt functions mainly as a record of the export transaction for buyers, sellers and the customs officials. The bank needs it together with the Bill of Lading and the insurance certificate to give payment. Copies of the invoice are used by the exporters, the exporter's bank, the paying bank, the receiving agents at the port of discharge, the customs in the exporting and importing countries and the importers. Air waybills are receipts and evidence of contracts of carriage. Three copies of the air waybills are completed, one each for the shipper, the carrier and the consignee. The consignee must have the air waybill number to collect the goods from the airline.
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