The following Commercial guidance note Produced in partnership with James Watthey and Quentin Tannock of 4 Pump Court provides comprehensive and up to date legal information covering:
This Practice Note explains the law and practicalities relating to bills of lading and sea waybills in the context of an arrangement for the carriage of goods by sea. It explains the differences between bearer bills, order bills and seaway bills and explains how the functions of the bill of lading as a receipt, document of title and contractual document. The Practice Note also explains who the parties to the contract of carriage are and their interplay with third parties and how a transfer of rights under the documentation may be achieved.
A bill of lading:
is produced by or for a carrier of goods by sea to the person with whom the contract of carriage is entered
contains or evidences the contract of carriage and its terms
provides evidence of the receipt of the goods
is a document of title
There are two types of bills of lading:
‘bearer bills’ require that the goods be delivered to the bearer (holder) of the bill of lading
goods shipped under ‘order bills’ must be delivered to the person named on them or to their order. Such bills may be transferred
A sea waybill performs a similar function to a bill of lading in that it evidences receipt and the terms of the
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