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Shipped

lading, bill, cotton, bills and port

SHIPPED, in good order and well conditioned.

by , whose responsibility ceases on the present being signed, in and upon the good SHIP OR VESSEL, called the whereof is master for this present Voyage, now lying in the Harbour of and bound for being marked and numbered as in the Margin, and to be delivered in like good order and well conditioned at the aforesaid Port of or to kssigns.—Freight to be paid by CONSIGNEES at the rate of Shillings and Pence Sterling, per Ton of 20 Cwt. delivered, on the whole being delivered and all Conditions of every character, as per Charter Party dated at With average accustomed—IN WITNESS whereof, the Master or Purser of the said Ship hath affirmed to Bills of Lading, all of this Tenor and date, one of which bills being accomplished, the others to stand void.

Weight unknown.

Dated at 19 Along with the bill of lading there should be the insurance policy (see MARINE INSUR ANCE POLICY), and the detailed description of the goods in the policy should agree with that in the bill of lading.

A " Port Bill of Lading " is one which is signed by the authorised person after the goods have been received by that person at the port of shipment.

A " Through Bill of Lading " is one which provides (or ought to provide) for the con tinuous responsibility of several railway companies and shipping companies from one place to another.

A " Custody Bill of Lading " is a new form created by the Bill of Lading Confer ence Committee in connection with the cotton trade, as announced in a circular dated January 6, 1909. " This Bill of Lading may be issued after proper delivery of the cotton, but before arrival of the vessel in port." Within three weeks from its date

a master's (or agent's) receipt is to be fur nished proving the actual shipment of the cotton. A custody bill of lading is to be clearly marked as such, to distinguish it from a " Port Bill of Lading." It can be issued only by shipowners or loading agents who have signed a letter of agreement with the Conference Committee. (Journal of In stitute of Bankers, February, 1909.) In view of recent cotton frauds in America, the following resolution has been agreed to (July, 1910 by certain bankers in London and Liverpool : " That the banks comprised in this committee agree that in the case of drafts drawn upon the banks against bills of lading for cotton negotiated through Exchange buyers in America, the banks will decline, from October 31 [since extended to December 31] onwards, to accept against bills of lading relating to such drafts unless the genuineness of the bills of lading, both as to signature and as to posses sion of the cotton by the carrier up to the time of issue, be guaranteed by such Ex change buyers to the satisfaction of the banks concerned." The stamp duty ,Stamp Act , 1891, is : BILL OF LADING of or for any s. d goods, merchandise, or effects to be exported or carried coast wise 0 0 6 And see Section 40, as follows : " (1) A bill of lading is not to be stamped after the execution thereof.

" (2) Every person who makes or executes any bill of lading not duly stamped shall incur a fine of fifty pounds." (See CHARTER PARTY.)