What happens to the set of bills of lading once it has been issued to the shipper?

MCA Oral Exam Questions

Depending on the terms of sale between the seller and buyer of the goods, the exporter may send the set of original bills of lading to the consignee (buyer), who will pass one to the receiver, enabling the receiver to take delivery from the carrier at the discharge port. 

Alternatively, where a letter of credit has been issued to enable the seller to obtain early payment, the original bills of lading will be endorsed and transferred by the seller to his bank, which will endorse and transfer them to the buyer's bank, which will in turn endorse and transfer them to the buyer, enabling him to take delivery of the goods. While a bank has the Bills it holds the title in the goods described on the Bills.



SPONSORED: Jokes, Crazy Videos and more... -  www.CrazyFans.com  No.1 Site!

backup content in case it doesn't work