Welcome: Bill of Lading Bill 2025
RAJESH MENON.
Policy Specialist- Maritime and Logistics Infrastructure (Currently with Govt of India ) Board Advisor/Mentor/ Certified Independent Director Visiting Faculty /Author and Columnist.
The Bill of Lading, in shipping terminology, is a document signed between the shipper and the carrier, regarded as a binding legal contract. It provides details about the goods being transported, the applicable charges, and the terms of shipping, and includes a number typically called the lading number. This document may also contain clauses that enable the shipper to transfer ownership of the goods to another party or change the discharge port. The Bill of Lading must be presented by the shipper to claim their cargo from the carrier.
In India, the Bill of Lading Act of 1856, which is over 150 years old, legitimizes the consignee's rights to the goods, and the right to charge freight rates on the carrier, and serves as evidence of shipping. However, due to evolving circumstances, the Act does not address issues related to modern shipping processes and technological advancements since its enactment.
Therefore, a revised Bill of Lading was introduced in Parliament in August 2024 and has now been passed by the Lok Sabha. Although the fundamental aspects of the existing Act will remain relevant, it is being updated as it is a pre-independence statute that needs to align with contemporary legislation and enhance clarity and understanding. This effort is part of the broader initiative to modernize India's maritime laws and improve the nation's competitiveness in international shipping.
This new bill empowers the government to issue directives to execute any provisions of the Act and clarify issues related to the transfer of rights and liabilities outlined in the bill. The revised bill will implement new drafting protocols, with the primary goal of aligning the provisions of the existing Act with modern requirements.
The bill will now be sent to the Rajya Sabha and will become an Act only upon receiving assent from the President of India and after being published in the official gazette of India.?
Antiquity of a system or process by itself is no justification for change. The question is: does it serve the purpose or not? If no, then change to improve.
Synergetics Management & Engineering Consultants pvt ltd
10 小时前What's your take
Policy Specialist- Maritime and Logistics Infrastructure (Currently with Govt of India ) Board Advisor/Mentor/ Certified Independent Director Visiting Faculty /Author and Columnist.
2 天前Let it get passed by Rajya sabha
Experienced Director of Operations with MBA and Expertise in Business Unit Start-up
2 天前Could you expand on difference and benefit of new BL Act in incoterms ?