Category Archives: Incoterms

points to consider before you sign a bill of lading

8 points to consider before you sign a bill of lading

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.. 🙂

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do i need cargo insurance

Do I need cargo insurance for my shipment..??

Cargo insurance is a type of insurance that protects a buyer or seller of goods against damages or loss of cargo..

Despite insurance having been around for centuries, there is still a feeling that any form of insurance is a “grudge purchase” and in the case of cargo shipments, many people ask the question “Do I need cargo insurance for my shipment“..??

By its nature, insurance is an intangible benefit, one that can only be tested under adverse circumstances and there is nothing more adverse than cargo damage..

From a

• Local (Street to Street, City to City, Town to Town etc)
• Provincial (Within the same province or state etc)
• National (Province to Province, State to State etc)
• Global (International trade between countries)
• Regional (Within regional trade blocs like EU, BRICS etc)

there are several modes and types of trade/shipments around the world..

Where there is a shipment, there is a possibility of cargo damage and where there is the possibility of cargo damage………………….

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Is there a link between demurrage and Incoterms..??

Is there a link between the demurrage charged by the shipping line and Incoterms®..??

This question was prompted by the below question from one of the readers.. Thank you Rizwan..

We have received huge shipment from our suppliers on CFR basis

In the Bill of lading the Consignee is To The order of Seller and our company name is in Notify party.

The seller has sent us the original Bill of lading 20 days after the vessel has arrived at destination port.

Hence there is a delay in clearing the goods. Can the shipping line claim demurrage charges from us or they should put claim on seller /shipper since the shipping line contract is with the seller and not us

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