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July 31, 2018
WHAT DOES TELEX RELEASE MEAN?
Telex Release means that carrier is ready to transfer the cargo to the consignee. Typically, carriers carefully watch over the payment of all fees declared in the bill of lading, and after that make release.
Telex Release is also known as an Express Bill of Lading. What happens here is that the Shipping Company issues an Original but they do NOT give the original to the Shipper. Shipper once the don't have questions from the Consignee on payments of goods stamp special form and send it the Carrier, in return the carrier mark the Bill of Ladding with Telex Release chop and mark SURRENDERED in their internal system. It automatically can be used by consignee on their side WITHOUT an Original at destination.
WHAT DOES B/L STAND FOR?
A bill of lading (sometimes referred to as a BOL or B/L) is a document issued by a carrier to a shipper. B/L is used for carriage at sea.
It serves a number of purposes:
- It evidences the receipt of goods for shipment and indicates the route of the cargo;
- It is evidence that a valid contract of carriage exists and it may incorporate the full terms of the contract between the consignor and the carrier;
- It is also a type of security which states the right of property for the goods described in bl.