GUIDE TO ENDORSEMENTS OF ORIGINAL BILLS OF LADING
Friday, June 19, 2015
GUIDE TO ENDORSEMENTS OF ORIGINAL BILLS OF LADING
The endorsement of an OBL is a legal transaction whereby the owner of the goods shipped transfers "title" to those goods by signing their name or rubber stamping on the back of the OBL. Proper endorsement is one of the requirements for cargo release.
The party responsible for endorsing the OBL depends on who the OBL is actually consigned to. The notify party on the OBL is not recognised in this instance.
OBL Consigned to Endorsement required by:
To Order of the Shipper Must be endorsed by that Shipper
To Order of Bank Must be endorsed by that specific bank
To Order of the Consignee Must be endorsed by the consignee
To Order Must be endorsed by the shipper
Straight Consignment to Bank Must be endorsed by that specific bank
Straight Consignment to Other than a bank Must be endorsed by that consignee
Original Bills of Lading that are not properly endorsed as above will not be accepted
for release of cargo. As an example, OBLs consigned as a straight consignment to
"XYZ Import Company", endorsed by the shipper and/or the notify party but not the
consignee, is not acceptable.
Please note that in the presence of an format Letter of Endorsement from
consignee, the OBL must be endorsed by the nominated party on the LOE to facilitate
the release of the import cargo.
Should there be any additional information you require at this time please do not hesitate to contact
our team on 1300 0 LOCHM
Best regards,
Loch M. Fraser Logistics Pty Ltd
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