Kerim Allam

If a negotiable bill of lading is lost, stolen, or destroyed, a few measures can be taken. Place an advertisement in the local press about the “loss” or “nullification” of the original bill. A court order may be secured, which advises the carrier (shipping line) to deliver the goods to the holder of the title of the goods, based on a surety bond given by the entity claiming the goods, for an amount approved by the court.
The carrier also should receive a Letter of Indemnity indemnifying the carrier or any person injured by delivery, against liability under the outstanding original bill.. The court also may order payment of reasonable costs and attorney’s fees to the carrier.
Certain lines accept a Letter of Indemnity if it is signed by a bank who would then take joint liability to return the original bills of lading.

The seller pays for and arranges the insurance and freight. It’s a popular Incoterm because the buyer knows the final cost of goods and need not organise the shipping and insurance suppliers. A seasoned buyer may prefer to organise these suppliers to get the best deal and avoid any premium for the seller to do the work.

A Telex Release is the document used to authorise the release of cargo at one port after the bill of lading document has been surrendered at the other port. The carrier is required to collect the original bill of lading before any cargo is released. The bills are usually surrendered by the shipper or forwarder to a port agent (often at the port of loading). The bill includes instructions on releasing the goods to the consignee or named party.

The agent then sends a telex release to the discharge port agent to advise they have received the full set of three original bill of lading documents. The telex release is also confirmation that freight and all other charges have been paid at the port of loading. The release should include all cargo details such as name and address of consignee or named party, the container number and a detailed description of the goods.

If the telex release is complete and unambiguous then the goods may be released to the consignee or named party. Despite the name, the release is usually sent by email not telex.

The information for the declaration must be provided either in Finnish or Swedish. The goods description can be provided in English.

When you use the Export Declaration Service, you can select Finnish, Swedish or English as the interface language. However, for example restrictions, messages and decisions concerning the declaration are available only in Finnish and Swedish.

These are costs that can be removed from a customs declaration. For example, domestic freight costs, overseas export duties or licence fees, buying commissions, financial arrangements such as a discount for paying early and quantity discounts open to anyone.