Miscellaneous Questions

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 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.

More FAQs...