to the best of my knowledge,air&road transport documents are non negotiable
and not deed of title of the goods.
to opposite of the marine B/L ,i think
the main reason for that is to help the consignee to receive the goods from the carrier prior to have his transport documents,because air&road modes of transport are faster to reach destination before docs being
delivered to the negotiating bank and checked then mailed to the issuing
bank then delivered to the opener, while sea transport takes longer time to reach destination,that the documents would be delivered to opener before good arrive,so he can submit an original B/L to the carrier and receive the goods.
is my information in that regard correct.
deed of title transport documents
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mahdikelany
- Posts: 3
- Joined: Fri Apr 05, 2019 5:22 pm
deed of title transport documents
We wish to add more "meat" to our previous response for the sake of information exchange.
Yes, Mr. Mahdikelany, your opinion is correct but that is not all the reasons.
NO NEGOTIABILITY PROVIDED IN INT'L CONVENTIONS FOR SURFACE TRANSPORT
The legislations and int'l conventions (to name a few, such as CIM, International Carriage of Goods by Rail, BIFA Standard Trading Conditions of the British International Freight Association, UIRR General Conditions for International Road-Rail Transport of the International Road-Rail Federation, RHA Conditions of Carriage of Road Haulage Association Ltd., & those Rules more familiar to DC practitioners, for example, FIATA Federation of International Freight Forwarders Associations Rules & RMTD UNCTAD/ICC Rules for Multimodal Transport Documents, ICC Publication No. 481) which these surface transport documents may be subject to, do not provide the negotiability provisions. So unless these legislations and int'l conventions are changed, the surface transport carriers can do nothing.
WAYBILL MORE POPULAR IN SURFACE TRANSPORT
To keep our opinions brief, we try to give you one more reason. Those documents are mostly in waybill format. Waybills, like sea waybills which bankers are more familiar with, by definition, are not transferable and not negotiable and hence not documents of title.
According to what we are told by Mr. Charles del Busto, the Chairman of the UCP 500 Working Party as well as the ICC Banking Commission at that time, it is the insistence from the late Master Bernard S. Wheble that Article 24, though almost same as Article 23 in its content, has to be added to the UCP 500 to show the insight from the respectable Mr. Wheble that the waybill will be our future dominating transport document in the fast expanding e-commerce era.
NO SUCH THING AS A "DEED" IN TRANSPORT DOCUMENTS
By the way, please do not use the word "deed", being technically not correct, as it is a more serious document and it is an entirely new ball game with more rigid legal forms and other requirements by related legistlations, such as under seal etc. For example, we have a more popular deed, named DMC (Deed of Mutual Convenant) when we buy our condominiums for our homes. Nevertheless, there is no such thing as a "deed" in transport documents and this term should not be abused in describing documents that cannot be deeds.
We also observe that the term "bill of lading" has been abused by certain transport practitioners. One time we even see a document named "Air Bill of Lading" and "Airway Bill" (should be "Air Waybill" although one may still find this incorrect term used in certain DC application forms) issued by certain freight forwarders. "Air Waybill" may also be seen from the writings of certain lawyers and consultants too.
WEB TRADING IS A NET WEAVED WITH DIFFERENT TECHNOLOGIES
As a DC consultant, we have the need to deal with transport rules as well as cargo insurance as we think we cannot resolve transport and insurance disputes in DC operations relying on our understanding on the UCP alone. Now it is proven that there is such a market need. So we encourage more DC practitioners (bankers, traders & freight forwarders who prepare documentation for their clients) to expand their knowledge base to prepare themselves "e-commerce ready", where we are living in a net weaved with different technologies.
INT'L RULES MAY NOT TALK TO ONE AND OTHER
By the way, the authorities that draft all these transport rules seldom, if never, meet one and other. If one tries to study them all, one may be amazed that some of them do not talk in the same language, as we have already pointed out in our article "T. O. Lee argues there are inconsistencies amongst terms used in ICC rules" published in the ICC Documentary Credit Insight Vol 6 No. 4 Autumn 2000 issue, which may be viewed by searching the DC Pro.
OUR THANKS TO ENCOURAGEMENTS FROM ICC HEAD QUARTERS
We also take this opportunity to show our appreciation and thanks to Ms. Maria Livanos Cattuai, the ICC Secretary General, for her positive and prompt response to our above article and her encouragements for us to provide more constructive criticism to ICC Rules in order to make them harmonised with changing trade practices in other industries and to make ICC operations progress and grow with time.
We are from http://www.tolee.com
[edited 11/17/02 3:41:35 AM]
Yes, Mr. Mahdikelany, your opinion is correct but that is not all the reasons.
NO NEGOTIABILITY PROVIDED IN INT'L CONVENTIONS FOR SURFACE TRANSPORT
The legislations and int'l conventions (to name a few, such as CIM, International Carriage of Goods by Rail, BIFA Standard Trading Conditions of the British International Freight Association, UIRR General Conditions for International Road-Rail Transport of the International Road-Rail Federation, RHA Conditions of Carriage of Road Haulage Association Ltd., & those Rules more familiar to DC practitioners, for example, FIATA Federation of International Freight Forwarders Associations Rules & RMTD UNCTAD/ICC Rules for Multimodal Transport Documents, ICC Publication No. 481) which these surface transport documents may be subject to, do not provide the negotiability provisions. So unless these legislations and int'l conventions are changed, the surface transport carriers can do nothing.
WAYBILL MORE POPULAR IN SURFACE TRANSPORT
To keep our opinions brief, we try to give you one more reason. Those documents are mostly in waybill format. Waybills, like sea waybills which bankers are more familiar with, by definition, are not transferable and not negotiable and hence not documents of title.
According to what we are told by Mr. Charles del Busto, the Chairman of the UCP 500 Working Party as well as the ICC Banking Commission at that time, it is the insistence from the late Master Bernard S. Wheble that Article 24, though almost same as Article 23 in its content, has to be added to the UCP 500 to show the insight from the respectable Mr. Wheble that the waybill will be our future dominating transport document in the fast expanding e-commerce era.
NO SUCH THING AS A "DEED" IN TRANSPORT DOCUMENTS
By the way, please do not use the word "deed", being technically not correct, as it is a more serious document and it is an entirely new ball game with more rigid legal forms and other requirements by related legistlations, such as under seal etc. For example, we have a more popular deed, named DMC (Deed of Mutual Convenant) when we buy our condominiums for our homes. Nevertheless, there is no such thing as a "deed" in transport documents and this term should not be abused in describing documents that cannot be deeds.
We also observe that the term "bill of lading" has been abused by certain transport practitioners. One time we even see a document named "Air Bill of Lading" and "Airway Bill" (should be "Air Waybill" although one may still find this incorrect term used in certain DC application forms) issued by certain freight forwarders. "Air Waybill" may also be seen from the writings of certain lawyers and consultants too.
WEB TRADING IS A NET WEAVED WITH DIFFERENT TECHNOLOGIES
As a DC consultant, we have the need to deal with transport rules as well as cargo insurance as we think we cannot resolve transport and insurance disputes in DC operations relying on our understanding on the UCP alone. Now it is proven that there is such a market need. So we encourage more DC practitioners (bankers, traders & freight forwarders who prepare documentation for their clients) to expand their knowledge base to prepare themselves "e-commerce ready", where we are living in a net weaved with different technologies.
INT'L RULES MAY NOT TALK TO ONE AND OTHER
By the way, the authorities that draft all these transport rules seldom, if never, meet one and other. If one tries to study them all, one may be amazed that some of them do not talk in the same language, as we have already pointed out in our article "T. O. Lee argues there are inconsistencies amongst terms used in ICC rules" published in the ICC Documentary Credit Insight Vol 6 No. 4 Autumn 2000 issue, which may be viewed by searching the DC Pro.
OUR THANKS TO ENCOURAGEMENTS FROM ICC HEAD QUARTERS
We also take this opportunity to show our appreciation and thanks to Ms. Maria Livanos Cattuai, the ICC Secretary General, for her positive and prompt response to our above article and her encouragements for us to provide more constructive criticism to ICC Rules in order to make them harmonised with changing trade practices in other industries and to make ICC operations progress and grow with time.
We are from http://www.tolee.com
[edited 11/17/02 3:41:35 AM]