How is Bill of Lading issued under a triangular shipment?
Suppose you are supplier of goods in India, you obtains export order from ABC China and ABC gets purchase order from USA.
Once after completing n
ecessary customs clearance procedures at load port, carrier issues Bill of Lading to you. The shipper under this bill of lading is you in India and consignee is your buyer ABC in China. The port of loading will be ‘your loading port’ and port of discharge and place of delivery are in USA as final port of discharge and final place of delivery. Once after discounting / negotiating your export bills, you send the said Bill of Lading to your buyer ABC in China along with other required documents as usual through your bank.
ecessary customs clearance procedures at load port, carrier issues Bill of Lading to you. The shipper under this bill of lading is you in India and consignee is your buyer ABC in China. The port of loading will be ‘your loading port’ and port of discharge and place of delivery are in USA as final port of discharge and final place of delivery. Once after discounting / negotiating your export bills, you send the said Bill of Lading to your buyer ABC in China along with other required documents as usual through your bank.
SWITCH BILL OF LADING:
Once after receiving original bills of lading from you, ABC in China surrenders the said original Bills of Lading with the carrier and make arrangements to issue another Bill of Lading to him, by mentioning shipper as ABC,CHINA and consignee as ZYZ, USA. This bill of lading is called ‘switch bill of lading’. So ABC in China sends the said bill of Lading to his buyer XYZ, USA. The said switch Bill of lading is used by ABC for discounting or negotiating his export bills with Bank. Surrender of Bill of Lading procedures and express release bill of lading procedures are also followed as regularly used in export trade.
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