Ocean bill of lading in international trade recomendation in use,khoá luận tốt nghiệp

THE STATE BANK OF VIETNAM MINISTRY OF EDUCATION AND TRAINING BANKING ACADEMY INTERNATIONAL BUSSINESS FACULTY Vu Thi Thanh Van Student ID: 18A4050258 OCEAN BILL OF LADING IN INTERNATIONAL TRADE - RECOMENDATION IN USE BACHELOR THESIS Ha Noi, 18th May 2019 THE STATE BANK OF VIETNAM MINISTRY OF EDUCATION AND TRAINING BANKING ACADEMY INTERNATIONAL BUSSINESS FACULTY Vu Thi Thanh Van Student ID: 18A4050258 OCEAN BILL OF LADING IN INTERNATIONAL TRADE - RECOMENDATION IN USE Major: International Business Code: 734.01.20 BACHELOR’S THESIS Supervisor: Ph.D Tran Nguyen Hop Chau Ha Noi, 18th May 2019 DECLARATION I hereby declare that no portion of the work referred to in the thesis has been submitted in support of an application for another degree or qualification of this or any other university or academy ACKNOWNLEAGDEMENT This thesis would hardly be complete without the helpful instructions from Ph.D Nguyen Thi Hong Hai and Ph.D Tran Nguyen Hop Chau I would like to thank them for being so enthusiastic and supportive with me since the very beginning of this research Moreover, my heartfelt thanks spend for my family and friends that always stand by my side Words fail to express how grateful I am to my father, my mother, my brother and my friends for their unconditional love and mental supports OCEAN BILL OF LADING IN INTERNATIONAL TRADE RECOMMENDATION IN USES CHATER 1: INTRODUCTION 1.1 Research motivation 1.2 Research scope and objective 1.3 Research questions andpurpose 1.4 Research methodology CHAPTER 2: LITERATURE AND THEORETICAL REVIEW .4 2.1 Literature review 2.1.1 Development of Bill of Lading 2.1.2 Governing laws and practices 2.1.3 Bill of Lading problems in international trade 2.2 Theoretical review .6 2.2.1 Definition .6 2.2.2 Roles of Bill of Lading in the international trade 2.2.2.1 In the contractual term 2.2.2.2 In payment term .8 2.2.3 Bill of Lading standard terms and conditions CHAPTER 3: ANALYSIS 13 3.1 Usage of Bill of Lading types in the international trade 13 3.1.1 .Types based on characteristic of transference 13 3.1.1.1 .Straight Bill of Lading 13 3.1.1.2 .To order Bill of Lading 134 3.1.2.2 Received for shipment Bill of Lading 15 3.1.3 .Ty pes based on method of shipping 16 3.1.3.1 Liner Bill of Lading 16 3.1.3.2 Charter party Bill of Lading 17 3.1.4 .Ty pes based on shipping voyage 18 3.1.4.1 Direct bill of Lading 18 3.1.4.2 .Through Bill of Lading 18 3.1.4.3 Multimodal Bill of Lading 19 3.2 Special Bill of Lading types 19 3.2.1 Surrendered Bill of Lading 19 3.2.2 Switch Bill of Lading 21 3.2.3 House Bill of Lading and Master Bill of Lading 23 3.2.4 Sea waybill 24 3.3 Application of Bill of Lading under the Letter of Credit transaction 26 3.3.1 Bill of Lading flow in a Letter of Credit transaction 26 3.3.2 Advantages of Negotiable Bill of Lading over Non-Negotiable Bill of Lading in a Letter of Credit transaction 27 3.3.3 Types of Bill of Lading that banks not prefer in the Letter of Credit transactions 27 4.2.2 Clean Bill of Lading 43 4.2.3 Shipper, consignee and notify party names 44 Abbreviations List 4.2.4 Signature 45 4.2.5 Port of discharge and Port of loading 46 4.2.6 The requirement for Date of shipment 47 4.2.6.1 Importance of the Date of shipment in Letterof credit payment 47 4.2.6.2 Determination of the Date of shipment 47 4.2.7 The requirement for On board Notation 48 4.2.7.1 Appearance of On Board Notation on the Bill of Lading .48 4.2.7.2 Data components of the On Board Notation 49 4.2.8 Partial Shipment Allowance 50 4.2.9 Amendments on the Bill of Lading 50 4.3 Conclusion 51 REFERENCES 52 B/L Bill of Lading COGSA Carriage of Goods By Sea Act CPBL ^CY Charter party Bill of Lading Container Yard D/O Delivery Order HBL House Bill of Lading ICC ISBP International chamber of Commerce International Standard Banking Practice for the Examination of Documents L/C Letter of Credit MBL Master Bill of Lading MTO Multi model Transport Operator NVOCC Non - Vessel Operating Company OBN UCP On Board Notation Uniform Customs Documentary Credits and Practice for UNCTAD United Nations Conference on Trade and Development CHAPTER 4: RECOMMENDATION AND CONCLUSION 4.1 Notices on the presentation of the Bill of lading 4.1.1 Originals and copies Exporters have to insist on receiving a full set of the original bills issued which proves for the rightful ownership of the consignment The presented Bill of lading must be: “be the sole original bill of lading or, if issued in more than one original, be the full set as indicated on the bill of lading” UCP 600 Article 20iv The issuance of more than one original is mainly to prevent loss of documents Standard number of original B/L of lading seems to be Originals According to that, the number of issued Original B/L must be indicated on the face of the document If you ignore this information, discrepancy may arise Because if a L / C requires for FULL SET, but on B / L does not show how many originals are issued, no matter how many original documents you present, the bank hardly have any basis to conclude complying presentation In companion with that, Article 17 in UCP 600 exposed clearly items about how documents are considered as the original The attention focuses on the sub-article “c” of article 17 UCP600 It says: “c Unless a document indicates otherwise, a bank will also accept a document as original if it: i appears to be written, typed, perforated or stamped by the document issuer’s hand; or ii Appears to be on the document issuer’s original stationery; or iii States that it is original, unless the statement appears not to apply to the document presented ” This means, bills of lading need not be marked “original” to be acceptable as an original document The original B/L may be shown in various forms as long as there is signature, mark, stamp or label legally indicating that it is original It can be either in the manual or typing form For example, a handwriting document is original unless you write “copy” on it Similarly, if you use business letterhead for documentation, the document is original unless the document indicates otherwise - that is, you write or stamp “copy” on it 40 Besides, in accordance with ISBP 745 instruction, Bill of lading marked as “first original”, “second original”, “, third original” or “Duplicate”, “triplicate” or similar expressions are all qualify as the original in case of more than one Original B/L (ISBP 745 A28) Another important question is that: “How many Original B/Ls and Copies must be surrendered to the Bank?” To answer for this, it is necessary to look up to requirements appeared in the letter of credit as well as refer to some relevant practices Paragraph A29 under ISBP 745 states that: “a The number of originals to be presented is to be at least the number required by the credit or UCP 600 b When a transport document or insurance document indicates how many originals have been issued, the number of originals stated on the document is to be presented, c When a credit requires presentation of less than a full set of original transport documents, (for example, "2/3 original bills of lading"), but does not provide any disposal instructions for the remaining original bill of lading, a presentation may include 3/3 original bills of lading” Without any special instruction in the credit, all of the originals stated on the bill of lading are needed to be surrendered by the beneficiary to the issuing bank Typically, a lot of letters of credit comes with a requirement as highlighted “3/3 clean Bill of loading” This means that in order for the terms of the L/C to be satisfied that the B/L must be issued in ORIGINAL and must have of those originals as a full set of bills of lading In some other cases in which the LC says, for example, in duplicate, the UCP clarifies that it means one original and the remaining number in copies So, either originals or original copy, is acceptable (UCP 600 Article 17e) If an LC demands presentation of copies of documents it means presentation of either originals or copies 4.1.2 Content 41 • Incorrect description of cargo (including any description such as clean when discrepancies or damage have been noted) • Incorrect port or voyage details Title: Ocean and/or marine bills of lading for port-to-port shipments are covered by Article 20 of the UCP 600 This article applies when the documentary credit requires presentation of a bill of lading covering transport by sea from one port to another port Additionally, ISBP Publication 681, at paragraphs 91 and 92 states “If a credit requires presentation of a bill of lading (“marine”, “ocean” or “port-to-port” or similar) covering sea shipment only, UCP 600 article 20 is applicable According to that article, a bill of lading must indicate that a port-to-port shipment has been made but need not be titled “marine bill of lading”, “ocean bill of lading”, “portto-port bill of lading” or similar to make it acceptable Language: It is stated in the sub- article 21(a) that required documents should be issued in the same language as the credit In the case when the credit allows two or more acceptable languages, the nominated bank has the right to limit the number of acceptable languages as a condition of either its engagement in the credit or its confirmation of the credit 4.1.3 Date of presentation It is imperative for exporters to keep in mind two timelines which are of paramount importance to letter of credit’s requirements: • LC Expiry date: this date is specified in “Field 31D: Date and Place of Expiry” indicating the date when the letter of credit is no longer within the validity period • Date of shipment: the date on which goods is actually shipped on board The determination of this date on the bill of lading will be reviewed in details in the next part of thesis In this part, we only focus on how the date of shipment affects the period of presentation All required documents including the original transport document must be submitted not later than 21 calendar days after the date of shipment However, in any 42 UCP 600) Any indication violating above clauses acknowledges the late presentation discrepancy 4.2 Notices on the inspection of the Bill of lading 4.2.1 Period of inspection According to the standard practice of examining document, “the issuing banks, nominated banks, confirming bank (if any) shall each have a maximum of five banking days following the day of presentation to determine if a presentation is complying” (UCP 600, Article 14b) The phrase “banking days” in this situation means days on which a bank’s office is open to the public for carrying on substantially all of its banking functions 4.2.2 Clean Bill of Lading A clean bill of lading is the bill declaring that there was no damage to or loss of goods during shipment The product carrier will issue a clean bill after thoroughly inspecting the packages to assure that they are free from any defects, damages, missing quantities or other deviations in quality A clean bill of lading indicates that the carrier received the goods in good condition and, before they actually shipped On the other hand, the concept which is in contrast to “clean B/L”, is constituted as a “claused B/L” (Or unclean B/L) A claused bill is issued when the received product is damaged or does not meet specifications A clean bill of lading can turn into an unclean bill of lading if there is a clause or notation written on the bill of lading which indicates that the goods are of defective condition or the packaging is defective For example : Broken cases, leaking cases during loading, empty barrels/cases, material is wet at the time of or before loading, Packaging does not meet up to the mark for the sea transit, e.t Many purchasers rely on letters of credit to pay for imports and banks may refuse to supply the funds if a claused bill of lading is presented Only clean bill of lading can be acceptable for the buyers as no importer wants to receive possibly damaged, highly unusable product Since the importer is unable to check the goods that are being sent to 43 him, clean bill of lading is the best means to know about the quality of goods and give an assurance to both the importers and banks regarding the quality of goods If the L/C requires a clean "Clean" bill of lading, then it is not necessary for the word "clean" to be specified on the bill of lading as long as there are no bad comments about the status of the container / packaging 4.2.3 Shipper, consignee and notify party names Shipper: It must require the correspondence between the name of shipper in the Letter of credit term and the name appeared on the Bill of Lading In the triangle business credit involving supplier, trader and end client, Back- to- back letter of credit if applied According to the L/C that the Trader opens for the Supplier, the primary set of the bill of lading needs to be issued with the factory as the shipper Once the goods are fully released from the factory to the trader, then this first set of bills of lading will be “switched” out for a second set At that time, the second set of bills of lading must indicate the trader as the shipper Consignee: This is important information on B / L which confirms the owner of the shipment and should always be specified in the L/C Before paying for documents, banks will therefore carefully examine the bill of lading to see that they are named on it as consignee, either on the face or on the reverse in an endorsement In the latter case, banks will also make sure that the endorsements show an unbroken chain of title through to them • If a L/C requires: “No made out to order of shipper and blank endorse ” the designated box of consignee only need indicate “to order " and the endorsee left blank which allows whoever holds the bill may take the delivery • If a L/C requires: “ made out to order of shipper ” the shipper must endorse the document and the B/L must be issued indicate “to order + name, address shipper” as consignee It is acceptable if the endorsement indicates that it is made for or on behalf of the shipper 44 exact and correct of issuing bank’s name and address specified in the consignee field, the bank will refuse to honor that payment for that letter of credit Besides, the importer can only pick up the goods when there is a signature of the issuing bank in this case 4.2.4 Signature As mentions above, under the spirit of UCP 600, Multimodal transport operator is now considered to act the same roles as the carrier Therefore, the signature provision of these two types of bill of lading is mainly equivalent All Ocean bills of lading as well as Multimodal Bill of lading, however named, must specified the name of the carrier and be signed by one of following entities • The carrier • The branch of the carrier • The master of the vessel • The agent acting on behalf of the carrier or the master The carrier or multimodal transport operator must then be identified either at the signature line or elsewhere on the face of the bill of lading In the case a master signs the bill of lading, the signature must be identified as either the captain or master and the name of the master isn’t required in addition to the signature In the case an agent signs the transport document; they need to state clearly whether the agent acts on behalf of the carrier or the master The signature without the name of the agent is acceptable under UCP 600 However, if an agent signs on behalf of the vessel master, the name of the master must be identified If the credit states “Freight forwarder’s bill of lading acceptable” or “Freight forwarder’s multimodal transport document is acceptable,” that document can be signed by the freight forwarder In this event, it is not necessary to show the name of the carrier and the multimodal transport operator does not need to be shown For Charter party bill of lading, UCP 600 article 22 states that it must appear to be signed by: • The master or • The charterer or • An agent on behalf of the master or the owner or the charterer Especially, the CPBL signed by a carrier or its agent is normally unaccepted by the banks This is because the confusion may arise when the document inspectors having to determine who, among various possible entities ranging from the owner to charterers and their agents, might be the contractual carrier under the contract of carriage as evidenced by or contained in the transport document 4.2.5 Port of discharge and Port of loading The letter of credit will identify a port of loading and also identify a port of discharge This information should appear on the ocean/marine bill of lading in the field identified for the port of loading or port of discharge However, it is possible that the port of loading could be shown in the field identified as the “place of receipt”, and port of discharge be in the field identified as the “place of final destination” and If this is the case, two things must be clear: • That the goods were moved from the place of receipt or transported to the place of final destination by vessel, and • That the on-board notation shows that the goods were placed on board the vessel at the place of receipt or the port of discharge is shown as the place of final destination It's acceptable for a letter of credit to show either the port of loading or port of discharge in term of geographical area e.g “Any USA West Coast Port.” Under these circumstances, the documents of transportation must indicate the actual port of loading and discharge which is within specified geographical area For example, if L/C requires: “Port of loading: Any Ho Chi Minh City Port”, B/L is allowed to indicate the 46 name of any port located within Ho Chi Minh City, namely: Cat Lai Port, VICT port, e.t The same practice could be applied in the case of Port of charge 4.2.6 The requirement for Date of shipment 4.2.6.1 Importance of the Date of shipment in Letter of credit payment If international transaction is arranged through a letter of credit, the credit often states a date for shipment of the goods, which is a matter of great importance It performs as a material to adjust the relation between the contract of carriage, the sale contract and the L/C transaction Date of shipment lays the foundation for banks to determine whether appears discrepancy concerning to: • Late shipment: It is the obligation of the exporters to carry out a completed shipment on or before the last date of shipment required by letter of credit terms Failing to fulfill that duty the issuing bank will calls for a late shipment discrepancy and refuses to honor the payment for the beneficiary • Late presentation of transport document: A complying presentation including the original transport document must be made not later than 21 calendar days after the date of shipment, • Payment time of the bill of exchange: Letter of credit that has been issued available by acceptance of a “Usance bill of exchange” may specify a due date which might be assumed by the date of shipment For example, a bill of exchange indicate the payment time as “ At 60 days after Bill of lading date” 4.2.6.2 Determination of the Date of shipment Issuing date and Shipped On Board date indicated on a bill of lading serves a function to be the basis to specify the date of shipment Confusions between these two concepts however appear regularly in the international business • Issuing date: It refers to the date that B/L has been officially issued (also called as Date of Issue) You can usually see this date near the signatures of the document • Shipped On Board Date: The date, on which the container carrying cargo was loaded on board, is construed as “Shipped on Board Date” 47 indication of this date will be brought into discussion later in the recommendations par of inspecting On Board Notation The “Shipped On board Date” and “Bill of Lading Date” are two different dates, and may not necessarily be the same This is because the container may have been loaded on board the ship on a one date, while the Bill of Lading can be issued to the customer before, after or on the date of issue If the bill of exchange refers to, for instant, “30 days after the bill of lading date” the bill of lading date here is constituted as the on board date appeared on the document On this occasion the on board date could be on or prior to or later than the issuance date of the bill of lading (UCP 600) The B/L may be issued with or without Shipped on board date Date of shipment, thus, is determined differently in each situation If a B/L indicates NO the Shipped on board date on the surface, the Issuing date of the bill of lading will be assumed to be the Date of shipment On the other hand, if the Shipped on board date is shown in the designated field of the bill of lading, then On board date will serves the function as the Date of shipment In case of partial shipment is allowed, Article 31 in UCP600 states that: if there is a presentation of more than one set of transport document in which specifies different date of shipment, then “the latest shipment date as evidenced on any of the sets of transport documents will be regarded as the date of shipment” UCP 600, Article 31 4.2.7 The requirement for On board Notation 4.2.7.1 Appearance of On Board Notation on the Bill of Lading The “On Board Notation” is created at origin by the carrier or his agent and displayed on the surface of B/L as the confirmation from the carrier of the goods has been shipped It appears in the form of a stamp or typed words within the body of the B/L and might be appeared with the Shipped on Board Date On Board Notation can be recognized by one of these following phrases in the transport document: • “On Board Date: ” • “Clean On Board Date: ” 48 • “Shipped On Board Date: .” • “Laden On Board Date: ” On the one hand, ISBP 745 states that if the port of loading is the same as the port of receipt, a shipped on board Bill of lading merely specifies the issuing date as the date of shipment It can be read as following practice: “when a bill of lading is pre-printed: shipped on board, the date of issue will be deemed to be the date of shipment, and no further on board notation is required” Under the same circumstances, however, in the case of “Received for shipment”, the bill of lading still asks for On board Notation indicated in a designated field or box On the other hand, if the place of receipt was different to the port of loading an on board notation will be required “unless it is evident from the bill of lading that the shipped on board statement applies to the named vessel and the port of loading stated in the credit.” 4.2.7.2 Data components of the On Board Notation The issues concerning with “On board notation” arise when the bill of lading contains place of receipt and/or pre-carriage details which are different to the port of loading stated in the credit This fact brings about the question of whether or not there is a need for an on board notation showing the name of the vessel and the port of loading, even if they are the same details as shown in the respective fields on the bill of lading As the result, ICC Banking Commission Recommendations in respect of On Board Notations has drawn the conclusion in which determine whether the on board notation requires more than just a date > On board notation bears the Shipped on board date: If the bill of lading indicates a place of receipt that is different from the port of loading i.e., place of receipt Amsterdam and port of loading Rotterdam BUT there is NO indication of a means of pre-carriage (ISBP 745) > On board notation bears the Shipped on board date and the name of the vessel If the bill of lading contains the indication "intended vessel" or similar qualification in relation to the name of the vessel (UCP 200, Article 20a, ii) > ON board notation bears Shipped on board date, the name of the vessel and the port of loading stated in the credit 49 • “If the bill of lading does not indicate the port of loading stated in the credit as the port of loading” • “If the bill of lading indicates a place of receipt or taking in charge different from the port of loading i.e., place of receipt Amsterdam and port of loading Rotterdam and there is an indication of a means of pre-carriage (either in the pre-carriage field or the place of receipt field)” (ISBP 745) • If place of receipt specify the name of a container yard or container freight station and the port of loading also name of a port in same place, they will not be construed as the difference Consequently, On board notation in these circumstances need not to be stated along with the port of loading and the name of the vessel • If Bill of lading contains the indication “intended” or similar qualifications in respect of the port of loading (UCP600 Sub-article 20 a,iii) 4.2.8 Partial Shipment Allowance Under the provisions of Article 31 UCP600, A bank will consider it a partial shipment if: • Shipment with more than one means of conveyance • Shipment with more than one journey • Shipment ends at different ports of discharge When the letter of credit prohibits partial shipments, B / L must show the full prescribed delivery quantity in the section of “description of cargo” (within the allowable tolerance specified in L / C) Any “less-than-full cargo description” in this case can call for discrepancy 4.2.9 Amendments on the Bill of Lading Bankers must be mindful about amendments to the bill of lading A bill of lading after it has been released can actually be corrected and changed But the bank only accepts the corrections and changes on the ocean transport document when those are certified by the carrier, the captain or the agent acting on behalf of them 50 4.3 Conclusion In international business, the ocean bill of lading is an indispensable document to adjust various relationships, which not only used for freight forwarding and transportation but also for the payment transaction particularly in the letter of credit method From the exporter’s point of view, the preparation for the complying set of B/L is very important to assure a smooth and safe transaction Since regarding the letter of credit’s principle, the banks only honor the credit only against for complying documentation That means, in order to get paid, exporters have to make sure they are able to present “right” documents at the “right” time that meet all of LC’s requirements Failing to fulfill those tasks, there is no way for the shipper to gain payment approval from the banks From the other aspects, the relevant banks need to be cautious in checking the presented documentation, especially the transport document This is because the bill of lading is an efficient tool which enables the banks to take the collateral security Under the circumstances in which the buyer is unable to make the payment, the bank will proceed to detain the documents and when the worst cases happen, they must resell the cargo to another party to recover the money that the buyer owes them Therefore, banks must be very careful and strictly check the documents In this case, “3C criteria” will be helpful for bankers to examine the documents in which papers must meet up with requirements of Complete, Correct and Consistent presentation That means documents should be fully surrendered in the permitted period of time as the credit’s requirements as well as should contain appropriate and logically connected information in terms of content This research puts the effort into offering helpful reviews and recommendations concerning to the transport document with the purpose to clear the ambiguity in the Bill of lading usage, from that reduce the discrepancies in the presentation of this document when the banks fund the shipment The thesis mainly focuses on the Bill of lading application in particular of the Documentary Credit payment As a result, it may place the gap for the possible future 51 researches either about this document under other international methods of payment e.g Document collection 52 REFERENCES Books • Daniel E Murray, (1983), “History and Development of the Bill of Lading” • McLaughlin C.B., (1925), "Evolution of the Ocean Bill of Lading", pp 548 • Mitcheihill A., (1990), “Bills of Lading - Law and Practice” (second edition.) • Stephen Mills, (1998), “Bills of Lading - A guide to good practice”” Thesis • Peel, S (2002) “Development of the bill of lading: its future in the maritime industry” • Sioulas, A (2013/ “Documentation fraud, fraudulent bills of lading” Journal articles • Bassindale, J (1996) “Fraud and Bills of Lading Journal of Financial Crime”, vol.√(1), 33-36 • Ph.D Nguyen Van Tien, “Nhung luu y lap va kiem tra van don theo tinh than ISBP 745” • Ph.D Nguyen Thi Hong Hai & Doan Ngoc Thang, “Van don duong bien nhung vuong mac thuong gap kiem tra va quyet dinh toan L/C” • Yiannopoulos, A N (1957) “Conflicts Problems in International Bills of Lading: Validity of Negligence Clauses” La L Rev., 18, 609 Public documents and reports • Gard, (2011), “Guidance Bill of lading”, p7 • Gard,(August/October 2007) “UCP 600 - How the new rules on documentary credits may affect contracts of carriage” News 187 • ICC,( 22 April 2010 ), Recommendations of the Banking Commission in respect of the Requirements for an On Board Notation, Document No.470/1128rev final • International Transport Intermediaries Club Ltd (Circular 2004-02) “Issuance of Switch Bill of Lading” • Mohammad El Hawawy (2013) “Fraudulent bills of lading” https://www.hgexperts • Seine Maritime, (2014),com/expert-witness-articles/letters-of-credit-bills-ofGlossary of Port and Shipping Terms, pp.365 lading• UNCTAD, (1971), “Bill of lading report”, chapter World and-international-trade-fmance-documentation-issues-important-in-litigationwide websites 18850“Shipping and World Trade”, Retrieved on 10.April.2019, from: • ICC, Laws and practices http://www.ics-shipping.org/shipping-facts/shipping-and-world-trade The Hague Rules (1924) • Christina Anderson, “Function of a bill of lading”, Retrieved on 15.April.2019, • from: The Hague-Visby Rules (1968) • https://www.westpandi The Hamburg Rules (1978) com/globalassets/about-us/claims/claims • guides/woe ISBP 681 claims-bills-of-lading-1 -functions-of-a-bill-of-lading.pdf ISBP 745dictionary, “Shipped on board Bill of loading”, Retrived: 18.April.2019, • Business • from: UCP 600 http://www.businessdictionary.com/definition/shipped-on-board-bill-of-lading-BL.html • Gard, “The date of the bill of lading”, from: http://www.gard no/web/updates/content/51869/the-date-of-the-bill-of-lading • Liner shipping http://linershipping24 blogspot.com/p/liner-shipping.html • Hariesh Manaadiar, (2019)“What is a Switch Bill of Lading and when and why is it used?”, from: https://shippingandfreightresource.com/what-is-a-switch-bill-of-lading-and-whenand-why-is-it-used/ • Christina Anderson, “ Claims Guides: Bills of Lading - Letters of Indemnity”, from: https://www.westpandi com/globalassets/about-us/claims/claimsguides/woe claims-bills-of-lading-2—letters-of-indemnity.pdf • Don Coker “Letters of credit bills of lading and international trade finance documentation issues important in litigation”, from: 23 ... specific kind of frauds 2.2 Theoretical review 2.2.1 Definition The term of Bill of lading, in most cases, may be realized by different names as: Ocean Bill of lading, Marine Bill of lading, Liner Bill, ... notice when issuing and inspecting the Bill of lading to avoid unwanted risks in business The main aim of this thesis is to offer helpful recommendation in use of Bill of lading by analyzing its classifications,... BANK OF VIETNAM MINISTRY OF EDUCATION AND TRAINING BANKING ACADEMY INTERNATIONAL BUSSINESS FACULTY Vu Thi Thanh Van Student ID: 18A4050258 OCEAN BILL OF LADING IN INTERNATIONAL TRADE - RECOMENDATION