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BILL OF LADING SUBJECT TO CHARTER PARTY NOT ACCEPTABLE

By Mr Old Man
Posted on February 17, 2017
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QUESTION

Can you please explain me meaning of below:

Bill of  Lading indicating that it is subject to charter party is not acceptable.

Sam

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ANSWER

Hi,

The Bill of Lading  that contains an indication “issued pursuant to charter party dated…”,  “freight payable as per charter party” or  “issued subject to charter party” or  bears a title “Charter Party Bill of lading”…  is deemed to be Charter Party Bill of Lading (CPBL).

Where the L/C states “CPBL is not acceptable”,  the bill of lading that contains such indication is not acceptable.

CPBL is an agreement between the charterer and the ship  owner.  In case of any dispute with the charterer, the ship owner would have the right to lay claim to the goods shipped on board the ship. For this reason, banks would refuse to accept L/C that requires or allows the presentation of CPBL.

Kind regards,

Mr. Old Man

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