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Home FAQ's English FAQ Q.22 I hear that Bill of Lading is Securities. Please teach it. Part. (2)

Q.22 I hear that Bill of Lading is Securities. Please teach it. Part. (2)

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Here, we would like to think about the matter that the concern is the deepest for us,
as related transportaion. That is, who are the right holder of the B/L
(Property right person, Owner of B/L), the Owners of a right freight as of now.

Q.22 Who is the right holder of Securities
(Property right person, Owner of B/L) ?


A.22 In general, it can be classified it into some according to
the description method as follows;

 


(1)  The one of registered form to which person entitled's name has been described.

(2)  The one of bearer form that becomes right Ownership of bond and
doesn't describe right holder's name.

(3)  The right is transferred by the endorsement, and the one of the circulating order type.


There are the Registered form (1) and the Order type (3) about for Bill of Lading.

In the Registered form, Consignee's name as the right holder is described
in the column of the Consignee.

In general for the Order type, name of the Shipper is described in the Consignee's
column following "TO ORDER".

Or, the name of the Bank on the import side etc. is described following "TO ORDER OF".

Moreover, there is the one that it is issued by describing only "TO ORDER",
and the shipper's signature as the endorser is demanded, too.
(An actual consignee is usually filled in as Notify party. )

It will be finally transferred to the consignee by the procedure and the endorsement
in the Bank.

Even if Bill of Lading is a registered form or it is an order type, it is possible to transfer
by the endorsement of both parties.

It maight be assigned to the third party by the Consignee.

Moreover, it is likely to be assigned to the third party without letting the Consignee
showing as notify party pass for the order type.

If there is no problem in the assignment or transfer of the freight by the endorsement,
the third party can receive the freight as an owner of a right freight.

The Shipping Company cannot refuse the delivery of the freight as long as there is no act
illegal even if there is a trouble in the transaction among shippers when Bill of Lading is
presented by the Owner of a right freight.

Please earnestly note when you hand over B/L of the registered form to the Consignee.

"Waybill" is not Securities.  The right holder of the freight is basically Consignees.

The Consignee (right holder) cannot be changed by transfer, assignment & etc.,
before the receipt of the freight.

 

 



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