Clause "Received For Shipment " in the L/C

[PKTee]

Dear All,

I am new in this forum.

I need to know what the meaning of the Clause in the L/C from my supplier which
ask me to include " Received for Shipment".

What is purpose of the clause and what is advantage and disadvantage to me ?

Anyone could help....

[picant]

Hi Pal,

Received for shipment bill of ladind means that the Shipping Company/Carrier has taken up the goods, but not placed on board a determinated vessel. This is common in some INCOTERMS, when the doods are delivered before placed on board, i.e. EXW, FAS, FCA. Normally l/c required an "on Board" bill of lading, also in these INCOTERMS(Wrongly I dare say). However, if the l/c calls for a "Received for shipment bill of lading" you will provide such type of bill. No disavantage for you, and probably the buyer has arranged transport by a carier or a forwarder so acting, in a satisfactory way.

Other comments appreciated

Ciao

[nesarul]

Dear Picant,
I personally don't think there is a correlation between incorterms and "received for shipment" (if any,pls help me to understand.... pls.......]

The obvious disadvantage of a received for shipment bill is that, unless it is converted to a shipped bill of lading, it provides no evidence of date of shipment.
.
Without shipment date, Treatment of insurance document if any, determining a maturity date from the date of shipment can not be established. more over applicant can not forecast about arrival of shipment followed by endanger itself to a great extent.
.
If i go on wrong track, pls correct me.
Regards
.
Nesar

[picant]

Hi Pal,

EXW, FCA and FAS incoterms are clear about he place of goods delivery, before loading the marchandise, so the transport document you receive is "Received for shipment".
In this case, you are not sure that goods have been shipped, but the shipping company has controll on them. All depends on Sale Contract, not for the banks requirements(Banks or Domestic Laws).

This is naturally my own point of view.
Other comments appreciated

Ciao

[nesarul]

Dear,

EXW, FCA and FAS incoterms are clear about he place of goods delivery, before loading the marchandise,

Yes I agree with that but that doesn't mean that

so the transport document you receive is "Received for shipment".

from my point of view.
Regards
Nesar

[shahriar]

in my opinion, a incoterm has hardly anything to do with the transport document. for EXwork, i think we are not going to get any transport document. i would surely like to know that if the LC calls for a FAS and the presented bill of lading shows shipped on board, would that be a discrepancy? i dont think so. i in fact think even if the LC calls for a received for shipment bill of lading, a on board bill lading would be acceptable.
opinion appreciated