Points of Distinction |
Bill of Lading |
Charter Party |
1. When used 2. Negotiability 3. Types 4. Receipt of goods and document of title. 5. Clauses and warranties. 6. Colleteral security. 7. Agreement. 8. Description of goods. |
• When some space is hired in a ship to carry a small consignment. • Transferable by endorsement and delivery. Semi negotiable • (a) Clean Bill of Lading. (b) Foul Bill of Lading. • Receipt for goods and document of title to the goods. • Does not mention loading and unloading days or lay days. • It can be used as collateral security to borrow money. • Not an agreement for live of ship. • Gives details of goods to be shipped. |
• When the full ship is hired to carry a big consignment. • Not transferable or negotiable at all. • (a) Time charter. (b) Voyage charter. • Neither a receipt nor a document of title only an agreement. • States days allowed for loading and unloading of goods. Contains terms and conditions. • It cannot be used a s collateral security. • Agreement for living the full ship or a subational part of. • Does not contain details of goods. |