Bill surren

A surrender bill of lading is a document issued by exporters that allows importers to legally own the items the exporter shipped. When importers pay for a shipment, the exporters surrender their ownership rights to the items so they cannot claim title or power over them; this tends to be a cleaner method of transferring ownership than some other bill of lading documents provide. These documents are typically paired with a documentary collection, although even if this is not used, the entity charged with holding the bill of lading should not surrender it until the importer pays. The surrender bill of lading can present a problem for exporters, because importers who have it can go into a port and take the shipped items, even if they haven’t yet paid for them, and the port may charge extra for this type of bill of lading.

With some bill of lading documents, exporters still hold some ownership over the items, the price can be negotiated or a lien can be placed on importers based on previous exchanges. When a surrender bill of lading is used, exporters cannot claim any rights or power over the items after importers pay. As long as importers do not pay, then the bill of lading should remain in the exporters’ hands so the exporters continue to legally own the items.

Bill surrender là gì?