Otherwise, the Bill of Lading becomes stale and is not accepted by the bank for payment. Exporter has to comply with the stipulation period of time indicated. In some cases, the Importer may indicate the number of days within which the documents are to be presented from the date of shipment. The term ‘Stale Bill of Lading’ is also used when a bill of lading is presented with a bank after expiry date of credit.Īccording to international commercial practice, Bill of Lading along with other shipping documents must be presented to the bank not later than twenty one days of the date of shipment as given in the Bill of Lading. Such presentation of Bill of Lading could be with the Supplier’s Bank, Discounting Bank, Negotiating Bank, Buyer’s Bank or buyer. Now let us discuss about Stale BL What is Stale BL?Ī Bill of Lading can be treated as ‘Stale’, if it is presented long after sailing of vessel pertaining to a shipment at port of loading. Once after releasing bill of lading from shipping carrier, exporter submits the same with his bank along with other documents to send to his overseas buyer. If ‘ON BOARD’ bill of lading is required, shipper can release bill of lading from carrier immediately up on the shipment gone on board the vessel. When can a Bill of lading be issued? Bill of Lading can be issued immediately up on completion of export customs clearance formalities of the country. What is Stale Bill of Lading? How does Stale Bill of Lading work? Is stale bill of lading acceptable by negotiating bank, discounting bank, buyer’s bank or buyer?īefore explaining about stale bill of lading, let us have a brief idea about the time of releasing bill of lading. Now, let us discuss about Stale Bill of Lading (Stale BL). I have written a couple of articles in this web blog in detail about the importance of Bill of Lading, it’s function and mechanism in international business. ![]() The information provided here is part of Import Export Training course online ![]() ![]() Posted on 10 April 2023 Category : Bill of Lading
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