What is difference between surrender BL and telex release?

What is difference between surrender BL and telex release?

A freight carrier typically issues a telex release after all original copies of the bill of lading are surrendered. A telex release allows the carrier’s agent to release the cargo at one port even though the shipper surrendered the original bill of lading at a different port.

What is telex release code?

A Telex Release can be defined as a message that is sent by an agent or shipping line from the origin to the office at the customs destination. It can also be sent from an agent to signify that the shipper has already surrendered the OBL (Original Bill of Lading) issued to them.

What does B l mean in shipping terms?

bill of lading
A bill of lading (BL or BoL) is a legal document issued by a carrier to a shipper that details the type, quantity and destination of the goods being carried. A bill of lading also serves as a shipment receipt when the carrier delivers the goods at a predetermined destination.

What is HBL telex?

It’s typically an email and stamped Telex on the House Bill of Lading (HBL). This type of release tells the origin and destination forwarders that the cargo can be released to the consignee without the original HBL being presented.

Why are there 3 original bills of lading?

Typically three bills are issued—one for the shipper, one for the consignee, and one for the banker, broker, or third party. If more bills of lading are issued, there is an increased risk of fraud, theft, an unauthorized release of goods, or release to the wrong person.

What is bl surrender?

Surrender BL is a legal document issued by the exporters to terminate their ownership over the sent goods and transfer it to the importer.

How do you use telex release?

How does a Telex Release work?

  1. Pay the bill to a commercial provider.
  2. The provider informs the agent that the Bill of Lading has been released.
  3. The shipping line informs the agent that the merchandise can be withdrawn without the Bill of Lading.
  4. The consignee withdraws the merchandise without the original Bill of Lading.

Why is BL surrendered?

Why is Surrender BL important? When the importer has completed the payment of the goods, the exporter gives up his rights over the sent goods and cannot reclaim the ownership. Surrender BL is necessary for the transfer of ownership of goods.

What does Bol stand for?

If you’ve used freight shipping before then you’ve probably heard the term “BOL.” You’re probably wondering, “What does BOL stand for?” The BOL acronym is short for “bill of lading,” and it’s an official document used for virtually all freight shipments.

What is telex release fee?

Common Freight Costs & Charges Telex Electronic Cargo Release/EDI Fee Description: This charge is applied to cover the cost of sending forms and messages to ports, CBP, and other government and quasi-government agencies, either by telex or electronic data interchange (EDI) mode.

What is the difference between telex release and sea waybill?

An advantage of the telex release is that cargo will be released at the destination port without having to produce the original seaway bill as they are already surrendered at the port of origin. It, therefore, avoids delays that can happen in the exchange of original documents and subsequent clearance of goods.

How many bills of lading do you need for one shipment?

Typically, there are three bills of lading, one for the shipper, one for the consignee, and one for the banker, but there is no limit to the number of bills of lading issued. Addition bills of lading increase the risk of fraud, theft, or the unauthorized release of goods.

How does a Telex release work in shipping?

Based on this surrender, they will instruct the load port agent to advise the discharge port agent that the cargo covered under the surrendered bills of lading may be released to the consignee shown on the bill of lading without presentation of any original bills of lading..

What’s the difference between a bill of lading and Telex release?

Difference between the Original Bill of Lading and Telex Release. When an import or export is carried out, the Bill of Lading can be in the form of a physical hard copy of the document known as the Original Bill of Lading or a virtual copy called the Telex Release.

How did telex releas e get its name?

Although nowadays such OBL surrender information and release instructions are sent by email or updated in the shipping line’s online system, the name telex releas e stuck due to the long period that the telex machine was used for such purposes and the quick communication that was possible using Telex.. Fascinating isn’t it..

Are there any risks associated with Telex release?

Although a regular activity within liner shipping, there is nevertheless a risk factor associated with the actioning of telex releases. Another interesting consideration is whether or not the discharge of cargo via telex release is even allowed at the specific port authority.