MITIGATING RISK
ORIGINAL BILL OF LADING
– RETAINED ON BOARD
MITIGATE RISK SURROUNDING
‘ORIGINAL BoL RETAINED ON BOARD’
This PDF explore the issues surrounding delivery of cargo against an ‘Original Bill of Lading retained on board’.
SCENARIO
Typically, the commercial practice of ‘Original Bill of Lading retained on board’ is intended to overcome the difficulty of the vessel reaching the discharge port before the original bills of lading reach the Receiver through the usual international banking system.
INCLUDES RISK ASSESSMENT CHECKLIST
We have included a risk assessment checklist with simple and practical risk management efforts to help you avoid/mitigate the risk of mis-delivery of cargo to the wrong person.
THE ISSUES
Typically, the commercial practice of ‘Original Bill of Lading retained on board’ is intended to overcome the difficulty of the vessel reaching the discharge port before the original bills of lading reach the Receiver through the usual international banking system.
“The identity of the nominated Receiver needs to be clearly established in order to avoid any risk of delivery of the goods to the wrong person”
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Mitigate the risk of mis-delivery of cargo to the wrong person.