Letter of Credit Forum

DEAR VENKAT

You are mistaken. Pls go through my posting and ask the doubts, if required.

Regards

Tulsi   

i have the same opinion with venkat
In short, surrenderd/express B/Ls make the consignee can obtain cargo
- without presenting original B/L;
- by a copy of B/L.

Bank(s) expect
- no original B/L could be submitted (all originals bill of lading had been surrendered to the Carrier). In return, shipper will receive a copy only
- not to require 'Full set'/'Original' submitted
- the copy B/L usually marked 'released/surrended/express'
- lose control over the release of the cargo at destination (if B/L consigned 'to order' or 'to order of applicant'

All documents need to comply with the L/C clauses. Endorsements required, if the L/C calls for endorsement on the documents. If the l/c calls for original /copy to be submit, then required. In other words presentation and the checking of documents are subject to the L/C condition only.

Regards

Tulsi

If the shipper is Surrendered the original B/L to the issued shipping company or the agent, then we can say surrendered B/L. Shipping company will send the message to the destination counterpart as “ shipper has surrendered the original B/L, pls issue DO without original B/L”. Consignee can clear the cargo immediately without wasting time which intern avoids heavy demurrage.  

EXPRESS B/L – upon forwarding the B/L instruction, the shipper will mention as “Express B/L details”. In this case, the shipping company will send the message to the destination counterpart immediately upon sailing of the vsl for the issue of DO without original B/L. Consignee can clear the cargo immediately without wasting time which intern avoid heavy demurrage. Shipper will get only the non negotiable copies.

IN SHORT (Surrender B/L – telex message is sending after the surrender of original B/L with the consent of the shipper.  

Express B/L- telex message is sending upon sailing of vsl without waiting further request of the shipper. )

Ocean bill of lading is a normal bill of lading, collecting after sailing of vessel with shipped on BOARD date or before sailing of vessel without on board notation and marking  “Received for shipment”. Mostly issuing 3 originals and 3 Non- negotiables. 

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Regards   Tulsi / Dubai