Important types of BL which startups must know. B/L is provided by a shipping line to the exporter.
A. On Board B/L = Generated by the Shipping line when goods loaded into a vessel (This is the major requirement of an importer to clear his goods from his port)
B. RFS B/L = Received for Shipment B/ L, its generated (if required) when the goods are received by shipping company but yet loading is not done onto the vessel
{many times if exporter harass CHA or Shipping Line too much, they give such RFS BL in advance to keep a mouth shut of exporter but such BL are not accepted in LC payment terms}
Important Subtypes of A & B for startups
1. To Order B/L (Safest B/L): To order BL is considered as safest BL in the world when it is consigned to in the name of Bank, because in case of DP / DA or LC we are not receiving any advance . We might receive some small % in advance but rest has to follow as per DP/DA/LC for example 20% Advance & 80% DP via bank. In that case, we cant give our goods tile in the name of buyer. So we consigned cargo in the name of Bank, & bank after receiving money can endorse in the name of the buyer.
2. Stright B/L : Stright BL are such BL on whom consignee is direct buyer name. Such BL must only be made when payment received in advance or if goods are sent on open account to our friends or relatives, etc.