Difference between bill of lading and multimodal transport document
Intermodal vs. Multimodal: What is the Difference?
Bill of Lading : Types of Bill of Lading & Bill of Lading Samplesand
Old habits, they say, die hard. If you look through the contents of almost any university course on the transport of goods in international trade, its centrepiece is likely to be the traditional ocean bill of lading issued to a cargo owner wanting nothing more than port-to-port carriage by sea. Multimodal and other forms of transport are tacked on at the end as a kind of afterthought, a variant on this model. This is not a little curious. As anyone in the business will tell you, for the overwhelming majority of international and national shippers these days, transport means getting stuff shifted from one inland terminal to another, very probably packed in a container provided either by the carrier himself or by a third party. And except in the case of simple trucking of goods from A to B, it equally follows that we are likely to be dealing with multimodal carriage of some kind, with the person dealing with a shipper or with his forwarding agent as likely as not an MTO 2 or NVOC, 3 rather than a carrier in the traditional sense. Unless his client is in the bulk commodity business, or dealing with countries with conservative bureaucracies that make a fetish of traditional shipping documents, it is highly likely that the old-fashioned, closely regulated marine bill of lading is something he has not seen in years.
Bills of Lading and Sea Waybills are the two main documents used in the transport of goods by sea, both domestic and abroad. It can be confusing to apply and use these documents correctly; however, each one performs very specific functions. A Sea Waybill is evidence of a contract of carriage and receipt of the goods being transported; whereas a Bill of Lading acts as the contract of carriage and receipt of the goods, while also serving as a document of title affording ownership. Commission on International Trade Law. However, in some cases it is not necessary to have a document of title supporting the ownership of goods; in these cases, the Bill of Lading may be replaced by another type of document, such as the Sea Waybill. This means that the goods can be delivered to the person identified in the document, and they will simply have to verify their identity instead of presenting a document to claim the freight. It is important to mention that a Sea Waybill only plays an evidential function and does not give title to the goods nonnegotiable.
With the development of containerization and Ro-Ro traffic unimodal transport documents have been adapted to the new reality. Now a transport document covering a multimodal or combined shipment may take the form of a Bill of Lading, Road Waybill or Rail Waybill. This diversity of documents is a source of confusion among parties dealing with them under documentary credits. To assist bankers and traders in understanding these matters I address herein the features that distinguish multimodal transport documents from unimodal transport documents. Notations in respect of places of receipt and deliver y. Combined Air and Sea Transport Documents. I am referring to the provisions of Art.
To obtain the best routing is not the same as getting the best total shipping cost. Using a combination of different transport carriers is sometimes better to achieve the best total shipping cost for door to door movements. However, it requires more logistics coordination and hands-on involvement. Using a single transport carrier to provide a door to door movement, may achieve the best routing. It requires less logistics coordination and paperwork. When shipping using a variety of forms of transportation, you may have run into the terms intermodal and multimodal.
Multimodal bills of lading can be classified under two main types: multimodal transport bill of lading and through bill of lading. Multimodal transport operator MTO means any person who concludes a multimodal transport contract and assumes responsibility for the performance thereof as a carrier for the whole journey. The Through Bill of Lading is issued by the sea carrier but the carrier states on the contract of carriage that he is only responsible of the goods for that part of the carriage he takes care of, such as the sea passage only. Source : www. A transport document covering at least two different modes of transport multimodal or combined transport document , however named, must appear to:.
Multimodal Bill of Lading