Page 101 - International Marketing

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BRILLIANT'S International Marketing Environment 103

consignee and the party to be notified on arrival of the goods at destination.
B/Ls are made in sets, usually of two or three originals, any one of which
gives title to the goods.
A shipped or on board bill acknowledges that the goods have been
loaded on board. A received for shipment bill confirms that the shipping
company or its agent merely has the goods in custody for shipment. It
may be converted to a shipped bill by a suitable annotation by the carrier
after the goods have been loaded on board. With the growth of container
transport and inland collecting depots the received for shipment B/L has
become much more widely used.
Where there is no direct shipping link between the buyer's port and
seller's port , arrangements have to be made for the goods to be transferred
to a second ship at another port. In such cases, it is necessary for the
exporter to obtain a through B/L covering the whole voyage. The through
B/L will also be issued where different modes of transport are used.
6. Shipping Bill: This is a customs document. There are three types
of forms of shipping bills; namely:
(i) Shipping Bill for Free Goods.
(ii) Dutiable shipping bill and
(iii) Duty drawback shipping bill.
The shipping bill must be prepared according to the category of the
export goods.
7. Marine Insurance Policy: It is the basic instrument in marine
insurance. A policy is a contract and a legal document. Its principal function
is to serve as evidence of the agreement between the insurer and the
assured. The policy must be produced to press a claim in the court of law.
An exporter must also put up the marine insurance policy as a collateral
security when he gets an advance against his bank credit.
The exporter should ensure that (i) the currency and the total value of
the policy are as per the terms of the L/C, (ii) details of the transport
documents are specified there in and (iii) Risks of transshipment or deck
shipment are covered. He should also ensure that (i) the policy is in the
name of the beneficiary and is duly endorsed in bank, (ii) the policy does
not contain any adverse clause and (iii) policy is duly stamped.
8. Airway Bill: Air transport is widely used for moving valuables or
urgently required goods. The document of transport used is an airway bill
(air consignment note). It is non-negotiable, so it does not carry the same
validity as a bill of lading for sea transport.
9. Combined Transport Document: It is a document of carriage
relating to multimodel transport. Almost every consignment has to be