Will blockchain revolutionize the shipping and logistics industry, allowing it to move past inefficient legacy technologies by handing companies the keys to high-tech solutions, at an affordable cost? That’s ShipChain CEO John Monarch’s vision, and over the past year, his company’s platform has emerged as one of the foremost contenders in this burgeoning market.
Cargo covered by a bill of lading may only be released to the entity to whom it is consigned..
The shipping line and/or their agents at the destination must take cognisance of the type of bill of lading issued, the endorsements required on the bill of lading for the type of bill of lading before releasing the cargo..
Some lines are releasing cargo without the endorsement , some are strictly following above, some are content with releasing cargo to whoever is in possession of the bill of lading and are not seeking any endorsement or authorisation letter (in the case of release to an agent)..
What is your viewpoint on this issue and let us take a vote to see how strictly these endorsement requirements are followed..
To the casual onlooker, signing a bill of lading may be a routine, day to day mundane job done by many people across the world.. But the fact is that there are several technicalities to be considered before signing a bill of lading..
It is important to understand that the person signing the bill of lading acknowledges the details recorded on the bill of lading.. Any bill of lading signed with the knowledge of misrepresented facts may be considered to be a fraudulent document and may result in legal consequences for the signatory..
If you are a bill of lading signatory, here are 8 points that you need to consider before signing a bill of lading.. It may be a bit of a long read, but worth it.. 🙂
With so many new companies launching blockchain-based shipping products, it’s clear that maritime trade will look very different in a few years.. What’s less clear is what that change will look like..
In this article we examine what barriers still exist to widespread blockchain implementation, and what companies are doing to overcome them..
We talk to startups like CargoX and established players like Agility, Maersk, IBM, Evergreen etc. to understand how shipping is changing, and where it’s going..
In one my previous articles (which is also the MOST READ article on this site) I explained the Difference between Demurrage and Detention..
After reading this, a few of my readers have asked me to explain the causes of demurrage and detention..
There are several reasons a container(s) can incur demurrage and/or detention or combined demurrage and detention.. Here are some of the major reasons..
Can I telex release a negotiable bill of lading..??
Maybe because it is one of the most important documents in global trade, there seems to always be a degree of uncertainty around a bill of lading, which type to issue, how many to issue etc..
This question is part of this uncertainty and many people have doubts on what is a Telex Release, how it works and under what circumstances a Telex Release maybe issued..
In relation to what is Telex Release and how it works, you can read my article dedicated to Telex Release..
In this particular post, I will cover the circumstances under which a Telex Release maybe issued and whether a telex release can be done for a negotiable bill of lading..