What is Combined Bill of Lading / Multi model Bill of LadingThe content will help you to understand the concept of bill of lading
To understand the combined bill of Lading, first, we need to comprehend the meaning of the bill of lading. It is a piece of paper or document which is being used by agents or carriers of shipment agencies for carrying goods. It may act as a cargo used for transportation, mainly for the delivery of products to its final destination. It is a document that proves the ownership of a specified load, which can either be non-negotiable or negotiable. The negotiable type is used as a letter of credit, which in turn can further be assessed for trading or borrowing of money. In case of any damages or loss of goods or any dispute regarding the cargo which is to be carried, the bills act as a catalyst in resolving any problem.
Contents in the bill of Lading
It provides the necessary liabilities of the shipment firm and the person who owns that cargo. Other information includes: -
- Consignee’s name
- Consignor’s name
- Mention of the port for destination and departure
- Name of the ship which is carrying the cargo
- Dates of the journey
- List of goods and the type of packaging which has been done to those goods
- Weights, volumes, marks, and numbers of the cargo being carried
Understanding the Multi-model bill of Lading
It is a transformed form of bill of Lading. As we already know, the meaning of the statement of Lading, combined bill of arrival, or multi-model bill of Lading serves as a gateway for the shipment authorities to ship the cargo or to carry it by air or by road. At times there have been cases where the shipment authorities have to use different modes of transport or a combination of different modes of transportation for a single carriage of cargo, then only the multi-mode of Lading paper's importance comes into the picture. They serve as an all in one article allowing the shipment firm to use any means of transport to carry the cargo.
Types of the Multi-model bill of Lading
There are two types of combined bill of Lading,
- Multimodal transport bill of Lading
- Through bill of lading
Multimodal transport bill of Lading
The bill is printed by the International Federation of Freight Forwarders Associations (FIATA) In this case, the authorities take full responsibility of the goods or cargo until it is delivered to its destination port.
Through bill of Lading
It is virtually identical with the multimodal transport bill of Lading. However, one significant difference is that through the bill of arrival, the shipment authorities only take the responsibility of the containers, which is to be carried via sea i.e., through sea passage carriage only.
Another noticeable difference is freight forwarders are issuing multimodal bill of Lading, shipping lines.