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The Definite Guide to Bill Of Lading Form 180305

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Instruction of Bill Of Lading Form 180305

hi everyone in this video I'll be.talking about what is a bill of lading.what are the types of bill of lading and.I will be also showing you samples of.bill of lading firstly we will be.looking at how a bill of lading works in.international trade in this diagram we.have the seller on the left and the.buyer on the right both parties have.entered into a sales and purchase.contract for the sale and purchase of.goods I have addressed the different.methods of payment in international.trade in a previous video in this.channel the link to the video is down in.the description box below once the.contract is signed depending on the.method of payment used the seller ships.out the goods via the shipping agent.[Music].the shipping agent will then issue two.sets of documents this the original.negotiable bill of ladings.and non negotiable Bill of Lading non.negotiable bill of lading is not signed.whilst the original bill of lading is.signed here's a sample of the negotiable.Bill of Lading and the non negotiable.Bill of Lading so what is a Bill of.Lading.according to 1907 House buri laws of.England a bill of lading is a document.signed by the ship owner or by the.master or other agent of the ship owner.which takes a certain specified goods.have been shipped in a particular ship.which purports to set up the terms on.which the goods have been - and received.by the ship after the signature it is.handed to the shipper who may either.retain it or transfer it to the other.person the seller forwards the shipping.documents and bill of lading to the.buyer the buyer forwarded the BL to the.shipping agent which issues the delivery.order to the port for the release of the.goods the shipping agent handed the.ghost over to the buyer next we will.look at the function of the bill of.lading the bill of lading acts as a.receipt for goods the seller has passed.on valuable goods to the shipping agent.the bill of lading acts as a form of.receipt that the shipping agent received.the goods as you can see in this.document over here this is the container.of goods specified on the bill of lading.the second function is the bill of.lading is a evidence of contract of.carriage.the bill of lading is a contract between.a shipper and the carrier it outlines.the shipping method and terms for.transporting the goods from origin to.his destination as per the terms of a.sales contract signed between the buyer.and the seller as you can see in this.bill of lading this particular red box.highlighted is the evidence of contract.of carriage from the part of loading in.Port Klang to the port of destination in.the felixstowe the bill of lading is.also a document of title to the goods in.order for the name consign II to take.delivery of the goods he must surrender.at least one original bill of lading to.the shipping agent at the end important.point to note is that when a bill of.lading is issued it is issued normally.in three original copies so why is that.three original bills of lading copies is.being issued this is because in those.days the mailing system was not so.reliable so they sent the first copy.over and kept the two other copies in.case the first original did not arrive.as you can see in this example of a bill.of lading this indicates that this bill.of lading is the document of title to.the goods by mentioning that one.original bill of lading must be.surrendered duly endorsed in exchange.for the goods of delivery order so we.talked about the three functions of a.bill of lading receipt for goods.contract of carriage and document of.title to the goods so who are the.parties involved in the bill of lading I.would like you to pause here and.download a sample copy of the bill of.lading in the link in the description.box below now one of the parties.involved in the bill of lading is the.carrier and as I said and as you can see.a provider you assemble copy of a bill.of lading which.indicate the respective parties in the.Bill of Lading another party is the.shipper the shipper.is the party that surrenders the goods.to the shipping agent consigning.the party that is supposed to receive.the goods notify party now this is a.party who receives notification of a.shipments arrival and he was addressed.appears on the shipping document named.agent a licensed agent in a port who.transects the ship's business such as.insurance or documentation for the owner.carrier master also known as the captain.of the ship now we will look at to whom.the bill of lading can be consigned to.to order a shipper to order to order.bank to order of importance to importer.now let us look at the bill of lading in.your LC transaction involving C.transpose the UCP 600 outlines the.following types of C transport the first.is bill of lading pot to pot shipment.article 20 of UCP 600 number to.transport document covering at least two.different modes of transport also known.as multimodal transport under article 19.of UCP 600 the third is non-negotiable.Seaway bill covered under article 21 of.UCP 600 number for charter party bill of.lading covered under article 22 of UCP.600 he now let us look at an old sample.of what a sea transport document used to.look like now let us look at an old.sample of.see transfer document as you can see in.this slide under Bill of Lading which is.also known as pot to pot shipment well.when trade first started it used to be.pot to pot shipment a single mode of.transport that uses sea freight from the.pot of loading to the part of.destination in those days they used to.call the Bill of Lading as marine Bill.of Lading also known as ocean bill of.lading whereby the carrier's.responsibility begins at the part of.loading and ends at the part of.discharge now we look at this diagram.goods are transported from a port in.Southeast Asia to a port in India.now let us look at a sample of a bill of.lading now you can download this sample.of a bill of lading in the link below as.you can see in this bill of lading the.PATA receipt and the part of destination.is clearly specified multimodal.transport shipment means combined motor.transport including sea freight in.and/or air freight transportation from.the port of destination to the final.place of delivery if we look at this.diagram as time goes by and it's not.just six develop the buyer wants the.goods to be transported to an inland.place by truck so the goods will have to.be shipped from port to port.[Music].and subsequently taken to the final.destination by truck so this is how the.terminology multimodal or combined.transport came about as you can see in.this slide over here.I provided a sample of multimodal.transport document which you can also.download this sample in the link below.the multimodal transport is identified.in the red box whereby it states that.the goods are shipped from Taiwan to.Dubai by sea and then by air freight to.Zurich so let us take a look at.non-negotiable Seaway bill it's an.unique document use in shipment whereby.it is not a document of title of the.goods in the case of a bill of lading in.order for the consigning to get the.goods it must surrender at least one.original bill of lading only used in.order to get the goods whereas a Seaway.bill is not a document of title to the.goods delivery under Assyria bill is a.pawn identification and there is no need.to present any original document as you.can see on the right hand side this is a.sample of a non negotiable Seaway bill.and you can download this sample in the.link below next we'll be looking at.charter party bill of lading in a.shipment of commodities for example palm.oil the shipper would need to charter an.entire tanker to ship out the goods the.shipper would then enter into an.agreement with a ship owner called the.charter party the bill of lading issued.under these circumstances is known as a.charter party Bill of Lading.as you can see on the right hand side I.provided you with a sample of a charter.party bill of lading.now now you can download a sample of.this charter party bill of lading in the.description box in the link below in.conclusion we've talked about what is a.bill of lading.the types of bill of lading and these.samples of bill of lading please leave a.comment in the comment box below.which part of this video that you find.valuable and what are the further.questions you have on bills of lading.remember click subscribe to this channel.if you like to receive any further.updates on videos on international trade.

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Bill Of Lading Form 180305 FAQs

Follow the below common confusions about Bill Of Lading Form 180305 . Reach out to directly if you still have other queries.

Need help? Contact support

How do I send a legal notice to a mover packer company?

You can send them the first legal notice by an email from your end writing your disputed matter and request them to compensate and try to settle. If they won’t agree and misbehaved or being rude to you or didn’t respond to your mail within one week then register your complaint against them in a consumer forum and from thereafter registering your complaint a legal notice will be issued in that name of that xyz** packers and movers.

I am planning to start an export business of organic chemicals in Mumbai want to know what kind of licences we need to aquire, procedure, eligibility?

Import and Export Licensing Procedures in India Posted on November 16, 2016 by India Briefing Reading Mode India’s import and export system is governed by the Foreign Trade (Development & Regulation) Act of 1992 (full text ) and India’s Export Import (EXIM) Policy. Imports and exports of all goods are free, except for the items regulated by the EXIM policy or any other law currently in force. Registration with regional licensing authority is a prerequisite for the import and export of goods. The customs will not allow for clearance of goods unless the importer has obtained an Import Export Code (IEC) from the regional authority. RELATED: Impact of GST on Imports and Exports in India Import Policy The Indian Trade Classification (ITC)-Harmonized System (HS) classifies goods into three categories: Restricted Canalized Prohibited Goods not specified in the above mentioned categories can be freely imported without any restriction, if the importer has obtained a valid IEC. There is no need to obtain any import license or permission to import such goods. Most of the goods can be freely imported in India. Licensed (Restricted) Items Restricted items can be imported only after obtaining an import license from the relevant regional licensing authority. The goods covered by the license shall be disposed of in the manner specified by the license authority, which should be clearly indicated in the license itself. The list of restricted goods is provided in ITC (HS). An import license is valid for 24 months for capital goods, and 18 months for all other goods. Canalized Items Canalized goods are items which may only be imported using specific procedures or methods of transport. The list of canalized goods can be found in the ITC (HS). Goods in this category can be imported only through canalizing agencies. The main canalized items are currently petroleum products, bulk agricultural products, such as grains and vegetable oils, and some pharmaceutical products. Prohibited Items These are the goods listed in ITC (HS) which are strictly prohibited on all import channels in India. These include wild animals, tallow fat and oils of animal origin, animal rennet, and unprocessed ivory. Export Policy Just like imports, goods can be exported freely if they are not mentioned in the classification of ITC (HS). Below follows the classification of goods for export: Restricted Prohibited State Trading Enterprise Restricted Goods Before exporting any restricted goods, the exporter must first obtain a license explicitly permitting the exporter to do so. The restricted goods must be exported through a set of procedures/conditions, which are detailed in the license. Prohibited Goods These are the items which cannot be exported at all. The vast majority of these include wild animals, and animal articles that may carry a risk of infection. State Trading Enterprise (STE) Certain items can be exported only through designated STEs. The export of such items is subject to the conditions specified in the EXIM policy. RELATED: India Implements WTO’s TFA – Boost to Trade Linkages, Ease of Doing Business Types of Duties There are many types of duties that are levied in India on imports and exports. A list of these duties follows below: Basic Duty Basic duty is the typical tax rate that is applied to goods. The rates of custom duties are specified in the First and Second Schedules of the Customs Tariff Act of 1975. The First Schedule contains rates of import duty, and the second schedule contains rates of export duties. Most of the items in India are exempt from custom duty, which is generally levied on imports. The first schedule contains two rates: Standard rate and preferential rate. The preferential rate is lower than the standard rate. When goods are imported from a place specified by the central government (CG) for lower rates, the preferential rate is applicable. In any other case, the standard rate will be applicable. If the CG has signed a trade agreement with the country of origin, then the CG may opt to charge a lower basic duty than indicated in the first schedule. Countervailing Duty In addition to the basic duty on imported goods, a countervailing duty (CVD) is also applicable to imported goods. The rate of duty is equal to the rate of excise applied to goods manufactured in India. If the article is not manufactured in India, then goods of a similar nature are used to determine the correct duty amount. If there are different rates of duty on similar goods, then the highest rates of the known products will be applied to the article in question. All products imported by Special Economic Zones (SEZ) enjoy zero percent CVD. Special Additional Countervailing Duty (known as Special CVD) Special CVD tax is application on all items. It is levied at the rate of 4 percent of the basic and the excise duty on all imports in order to countervail the VAT or sales tax on local goods in India. This duty can be refunded to traders who sell imported goods in India after charging VAT/Sales tax. Anti-Dumping Duty This is levied on specific goods imported from specified countries – including the US – to protect Indian industries. India can impose duties up to, but not exceeding, the margin of dumping, or the difference between the normal value and the export price. Safeguard Duty A safeguard duty is a tariff designed to provide protection to domestic goods, favoring them over imported items. If the government determines that increased imports of certain items are having a significantly detrimental effect on domestic competitors, it may opt to levy this duty on those imports to discourage their proliferation. However, the duty does not apply to articles imported from developing countries. The government may exempt imports of any article from this duty. The notification issued by the government in this regard is valid for four years, subject to further extension. However, the total period cannot exceed 10 years from the date of first imposition. Education and Higher Education Cess The education cess, simply put, is a tax designed to fund education and healthcare initiatives. An education cess at the rate of 2 percent and higher education cess of 1 percent are levied on the aggregate of duties of customs. However, the aggregate of customs duties does not include the safeguard duties, countervailing duty on subsidized articles, anti-dumping duty, or countervailing duty equivalent to VAT. Valuation Customs duty is payable as a percentage of ‘Value’ which is known as ‘Assessable Value’ or ‘Customs Value.’ The Value may be either: ‘Value’ as defined in Section 14 (1) of the Customs Act; or ‘Tariff Value’ described under Section 14 (2) of the Customs Act. Tariff Value – the Tariff Value is fixed by the Central Board of Excise & Customs (CBEC) for any class of imported goods or export goods. Authorities will consider the trend of value of the goods in question while fixing tariff value. Once fixed, the duty is payable as a percentage of this value. The value of imported goods for the assessment of duty is determined in accordance with the provisions of Section 14 of 1962 and the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. According to the rules, the assessable value equal the transaction value of goods as adjusted for freight and cost of insurance, loading, unloading and handling charges. In the assessable value, the following criteria are included: Commission and brokerage; Cost of container, which are treated as being one with the goods for customs purposes; Cost of packing – labour or materials; Materials, components, tools, etc. supplied by buyer; Royalties and license fees; Value of proceeds of subsequent sales; Other payment as condition of sale of goods being valued; Cost of transport up to place of importation; Landing charges; and Cost of insurance The following costs are excluded from the assessable value: Charges for construction, erection, assembly, maintenance or technical assistance undertaken after importation of plant, machinery or equipment; Cost of transport after importation; Duties and taxes in India; and Types of duties on exports and imports in India are covered in the Customs Tariff Act 1975. The Act provides all the laws and regulations related to customs in India. Customs Handling Fee The Indian government assesses a one percent customs handling fee on all imports in addition to the applied customs duty. Editor’s Note: The article has been updated in November 2016 per the latest import and export regulations in India. This article is an excerpt from the October 2015 issue of India Briefing Magazine, titled “Importing and Exporting in India “. The information has been updated on November 2016. In the magazine, we examine India’s import and export landscape, basic import and export procedures, as well as the customs duties. We note that India’s import-export figures have remained stable despite significant economic changes, summarize the steps that importers and exporters must follow in India, and provide an illustration that financial administration teams may examine to gain a rough estimate of potential duties calculations. Related Reading An Introduction to Doing Business in India 2016 Doing Business in India 2016 is designed to introduce the fundamentals of investing in India. As such, this comprehensive guide is ideal not only for businesses looking to enter the Indian market, but also for companies who already have a presence here and want to stay up-to-date with the most recent and relevant policy changes. Pre-Investment Due Diligence in India In this issue of India Briefing Magazine, we examine issues related to pre-investment due diligence in India. We highlight the different regulatory, tax, and socio-economic issues that a company should be aware of before entering the Indian market. We also detail some of the topics related to entry structures while investing in the Indian market, as well as cultural and HR due diligence, which may differ from state to state. Strategies for Repatriating Funds from India In this issue of India Briefing Magazine, we look at issues related to repatriating funds from India. We highlight the unique regulations for sending funds back from India, examine the various strategies companies can make use of while repatriating, and look at remittance procedures for different types of Indian entities. Finally, we give some tips on how expats can remit their Indian money to their home countries. i hope that could be more help

How do I export medicine from India to other Arab and Asian countries? What is the procedure?


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