Dry Cargo | Small Knowledge on Sino-Japanese Ocean Bill of Lading (II) – Electronic Bill of Lading
Sino-Japanese Ocean Bill of Lading (II) - Electronic Bill of Lading for Dry Cargo
Here comes the second installment of the knowledge of ocean bills of lading for China-Japan shipping. This time, we bring you relevant information on telex release bills of lading.
A telex release bill of lading is a type of bill of lading that allows the consignee to take delivery of the goods without presenting an original bill of lading. Instead, they can present a faxed or electronic copy of the telex release bill of lading, along with proof of identity. To obtain a telex release bill of lading, the shipper (seller) must apply to the shipping company and provide a letter of indemnity. The shipping company will then apply for and provide a letter of indemnity and telex notification to the destination port agent, indicating that the consignment does not require an original bill of lading to release the goods.
Process of Telex Release Bill of Lading
After the shipping company receives the goods, the shipper (seller) applies for a telex release and provides a letter of indemnity. The shipping company issues a telex release bill of lading (if a traditional bill of lading has already been issued, the telex release bill of lading will be issued after the original bill of lading is returned). The shipping company then immediately notifies the destination port agent by telecommunication (including telegram, telex, etc.) that the consignee designated by the shipper can take delivery of the goods with proof of identity or a faxed copy of the telex release bill of lading. When the goods arrive at the destination port, the consignee can pick up the goods by presenting proof of identity or a faxed copy of the telex release bill of lading.
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Advantages and Disadvantages of Telex Release Bill of Lading
Advantages: It speeds up customs clearance and reduces trade risks by avoiding the loss of documents.
Disadvantages: The biggest risk is the issue of ownership of the goods. If the shipper uses a telex release before payment method, there is a high possibility of the consignee refusing to pay for the goods.
Above is a detailed explanation of the electric bill of lading. We hope it can help cross-border sellers between China and Japan. In the next issue, we will continue to explain the SWB in the sea bill of lading between China and Japan. Follow us to learn more.
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