Looking from the freight forwarding lens, liabilities and delays management refer to the processes and strategies used to minimize the risks associated with transporting goods from one location to another. As a freight forwarder, we assume a significant amount of liability for the cargo it handles, including the risk of damage, loss, or theft. Effective liabilities management involves ensuring that you have adequate insurance coverage and maintaining accurate records of shipments to minimize the risk of disputes with customers or suppliers.

 

1. Bills of Lading 

Bill of Lading is a crucial document in the liabilities and delays management as it serves several purposes. The document serves as a receipt for the goods, confirming that they have been loaded onto the carrier's vessel or transport vehicle. It also acts as evidence of the contract of carriage between the shipper and the carrier, detailing the terms and conditions of the transportation agreement. 

 

2. What does it include? 

Shipper and Consignee Information: This section includes the names, addresses, and contact details of the shipper 

Carrier Information: This section includes the name, address, and contact details of the carrier

Description of Goods: details about the goods being transported, such as their type, quantity, weight, dimensions, and any special instructions for handling or storage.

Freight Charges: freight charges, including the amount due, payment terms, and any other fees or surcharges.

Shipping Information: This section includes details about the vessel or transport vehicle used to transport the goods, such as its name, registration number, and departure and arrival ports.

Terms and Conditions: including responsibilities and liabilities, insurance coverage, and any other special requirements or conditions.

 

3. B/L and Incoterms

Both Bill of Lading and Incoterms play a crucial role in liabilities and delays management through: 

• Effect on title transfer: The B/L serves as a document of title, meaning that the consignee must present the original B/L to take possession of the goods upon arrival at their destination. The Incoterms may affect when the transfer of title occurs, and may impact the parties' ability to sell or transfer ownership of the goods.

 

• Role in defining responsibility: The B/L and Incoterms both play an important role in defining the responsibility of each party in a transaction. The B/L details the terms and conditions of the transportation agreement between the shipper and carrier, while Incoterms define the division of responsibilities between the buyer and seller for the delivery of goods, the payment of costs, and the transfer of risk.

 

In a nutshell..

 

Overall, the B/L and Incoterms are both important tools for managing the risks and responsibilities of international trade, and should be carefully reviewed and understood by all parties involved in a transaction. We look thoroughly at liabilities and delays management  to maintain our trust with you and effectively manage risks so we can ensure that goods are delivered safely and on time, and provide a valuable service to businesses involved in international trade. Request your quote to know your rates now!