• Korea Trade Review
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• v.42 no.2
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• pp.53-76
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• 2017

To solve the crisis of bill of lading, every effort has been made to introduce the electronic bill of lading and sea waybill on a global basis. In spite of these efforts, electronic bill of lading is not introduced practically so farm but sea waybill is used in western nations to cope with the crisis of bill of lading. But there is a practice that surrendered bill of lading is used insead of sea waybill in Korea, China and Japan to do so. The surrendered bill of lading faces the problem that it is not considered legally as bill of lading and the decisions rendered by each nation's courts are different according to the usages of surrendered bill of lading. So careful consideration must be made in regard to these decisions. The purpose of this paper is to avoid the disputes in advance in using the surrendered bill of lading by analyzing the precedents for the surrendered bill of lading and finding its notes. This paper analyzed the precedents regarding the surrendered bill of lading and found the notes as follows; Firstly, the surrendered bill of lading is not a kind of bill of lading but a practice that a consignee can take delivery of the cargo without loss of time at destination without redemption of original bill of lading. Secondly, the parties must take legal steps in using the surrendered bill of lading as the bill of lading acts cannot apply to the surrendered bill of lading. Thirdly, the parties should establish their practice in using the surrendered bill of lading. Fourthly, it is reasonable to use the sea waybill as a substitute for the surrendered bill of lading.

• Journal of Arbitration Studies
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• v.27 no.1
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• pp.183-203
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• 2017

Two solution approaches have been suggested globally to solve the crisis of bill of lading; that is to say, electronic bill of lading and sea waybill. Electronic bill of lading is not unsettled as a solution to solve the crisis of bill of lading but sea waybill is used on a global basis to do so. The surrendered bill of lading is applied for practical usage instead of sea waybill in a short voyage among Korea, China, and Japan, owing to faster delivery at destination and lower cost than bill of lading. To surrender the original bill of lading, the consignor should submit all originals with a request letter to the carrier of goods with necessary surrender charges, if any, in doing so. Once after receiving the original bills of lading consisting of normally three originals but in some cases five, the carrier stamped "Surrendered" on the front of original bills of lading and sent a message to his counterpart at the port of destination, stating that the original bill of lading surrendered at the port of shipment and the consignee can take delivery of the goods without production of the original bill of lading at destination. The legal regime of the surrendered bill of lading is not settled as it is not considered legally as bill of lading, and the decisions rendered by each nation's courts are different according to the usages of the surrendered bill of lading. The purpose of this paper is to prevent the disputes between parties with regard to the surrendered bill of lading by studying the causes and precautions of disputes in relation to the surrendered bill of lading.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.201-220
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• 2016

A bill of lading is a document which is signed by the carrier or his agent acknowledging that the goods have been shipped on board a named vessel bound for the destination and stating the terms on which the goods so received are to be carried. Therefore, the bill of lading is a document of title enabling the holder to obtain credit from banks before the arrival of the goods, for the transfer of the bill of lading can operate as a pledge of the goods themselves. In the other words the bill of lading creates a privity between its holder and the carrier as if the contract was made. A bill of lading, for obtaining credit from banks, must appear to indicate the carrier's name and signature, the "shipped on board" notation, the port of loading and unloading stated in the sales contract and the credit. Data in the bill of lading, when read in context with the sales contract, the credit, the bill of lading itself and international standard banking practice, need not be identical to, but must not conflict with, data in that bill of lading, any other stipulated document, the sales contract or the credit. The surrender bill of lading, stamping "surrendered" on the original bill of lading by request of the shipper, is not recognized the legal effectiveness as a document of title by the statutory law and court. The surrender bill of lading may increase the risk of impossibility of payment to the holder. Therefore, the surrender bill of lading should be used restrictively between the credible parties and suggested to avoid in the other cases.