0
Hi, Sea way bill is a type of a B/L (bill of lading). To understand it better v must understand the key features of a bill of lading n then see how sea way will differs from a regular type of B/L. B/L performs three functions: # document of title (negotiable) # evidence of the contract of carriage # proof of receipt of the cargo (by the carrier) A sea way bill performs only '2' and '3' and is non negotiable i.e. the ownershipf othe goods cannot be transferred by endorsing the sea way bill. So the cargo consigned under it can only be released to the named consignee on the Sea way bill. As such the original document is not required. Only the receiver need to identify themselves correctly. This document is more relevant for non commercial transactions, inter company stock transfers or where the bank L/Cs are not involved. Hi, Sea way bill is a type of a B/L (bill of lading). To understand it better v must understand the key features of a bill of lading n then see how sea way will differs from a regular type of B/L. B/L performs three functions: # document of title (negotiable) # evidence of the contract of carriage # proof of receipt of the cargo (by the carrier) A sea way bill performs only '2' and '3' and is non negotiable i.e. the ownershipf othe goods cannot be transferred by endorsing the sea way bill. So the cargo consigned under it can only be released to the named consignee on the Sea way bill. As such the original document is not required. Only the receiver need to identify themselves correctly. This document is more relevant for non commercial transactions, inter company stock transfers or where the bank L/Cs are not involved. Regards, Sudesh Chaturvedi, FICS-uk
What else can I help you with?
What are the various types of bill of lading?
seaway bill airway bill
What is the meaning seaway bill?
Definition of 'Seaway Bill' The definition of a 'seaway bill' in Sections 208 and 209 of the code contains the same two initial requirements as for a bill of lading: it must evidence (i) a contract of carriage, and (ii) the carrier's receipt of the goods. However, unlike the bill of lading, the seaway bill is not a document of title. Thus there is no need for the consignee to present any transport document at the port of discharge, as long as he can identify himself as the party named as consignee in the seaway bill. Accordingly, the third requirement under the code is that the seaway bill obliges the carrier to deliver goods to the consignee named in the document. The carrier's only responsibility in this respect is to exercise due diligence when confirming the identity of the person claiming to be the consignee. Since the seaway bill is not a document of title, it may not be entirely suitable for shipments of goods intended for multiple resale during carriage. It is not absolutely clear under the code whether a buyer/consignee with a right of disposal over the goods can name yet another consignee
What is the difference of seaway bill and ocean bill of lading?
A seaway bill is a document of title that serves as a receipt for goods and can be used for tracking shipments, but it is generally non-negotiable, meaning it cannot be transferred to another party. In contrast, an ocean bill of lading is a negotiable document, allowing the holder to transfer ownership of the goods while they are in transit. Additionally, an ocean bill of lading often includes more detailed terms and conditions regarding the shipment, while seaway bills are simpler and primarily focus on the receipt of goods.
What is the worlds largest inland seaway?
st. Lawrence seaway st. Lawrence seaway
Could the notify party on a seaway bill be entitled to the cargo without endorsement from the consignee?
Yes, the notify party on a seaway bill can be entitled to the cargo without the consignee's endorsement, depending on the terms of the bill and applicable laws. Typically, a seaway bill serves as a document of title, and while it generally indicates the consignee, the notify party may have rights to take possession of the cargo as designated by the shipper. However, the specific rights of the notify party can vary based on the shipping line's policies and the jurisdiction in which the transaction takes place. It's essential to review the terms of the bill and consult legal advice if necessary.
1959 seaway project?
St. Lawrence Seaway
What is a major seaway in Canada?
st. lawrence seaway
What seaway links the midwest to the Atlantic Ocean?
The Saint Lawrence Seaway links the Midwest to the Atlantic Ocean. The Saint Lawrence Seaway flows from Lake Ontario to the Atlantic Ocean.
When was Seaway Trail created?
Seaway Trail was created in 1978.
When was Seaway Stakes created?
Seaway Stakes was created in 1956.
What is the names of the seaway from the Atlantic ocean to the great lakes?
The St Lawrence Seaway
When was Cornwall Seaway News created?
Cornwall Seaway News was created in 1985.
