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Bills of Lading - What You Need to Know - One of our workshops at TLC's 50th Annual Conference. Come hear what the experts have to say. Meet our moderator Jerrod Slaughter and our panelists Andrew Danas, Brent Primus and Raymond Selvaggio Bills of Lading have been used for the transportation of goods for centuries. In the absence of some other formal transportation agreement, the Bill of Lading, is the “Contract of Carriage” and governs the legal relationship between the shipper and the carrier. Yet few people that use them rarely even look at them or really understand how important they are. Every mode of transport has its own different versions of bills of lading – truck, ocean, air and intermodal. Three leading attorneys will give you a “tour” of typical bills of lading for each mode and explain how the “contract of carriage”, together with the applicable laws, treaties and tariffs, govern carrier liability and some of the “traps and pitfalls” for the unwary user. Also discussed will questions about the growing use of “electronic” and “paperless” bills of lading. Check out our whole program https://lnkd.in/etKJX2ST March 18-20, 2024 Charleston, SC - Join Us!

On the positive side, Index-linked pricing offers greater transparency and flexibility in pricing, aligning rates with real-time market conditions and mitigating the volatility associated with traditional fixed-rate contracts and can lead to reduced negotiation efforts and administrative costs for both shippers and carriers, as it aligns rates with established indices, streamlining the pricing process. However, we must also consider the negatives such as the potential for increased exposure to market fluctuations, which can lead to uncertainty in budgeting and financial planning for both shippers and carriers. Additionally, reliance on indices may introduce complexities related to the interpretation and application of index-linked rates, potentially leading to disputes and disagreements between parties. Moreover, the transition from traditional fixed-rate contracts to index-linked pricing may require adjustments in operational and contractual practices, posing initial implementation challenges for industry stakeholder https://lnkd.in/gKA-H6C8

Shipping Inco Terms in PL: 1. Ex Works (EXW) – The seller makes the goods available at its location, so the buyer can take over all the transportation costs and also bears the risks of bringing the goods to their final destination. 2. Free on Board (FOB) –The seller must load the goods on board of the ship, nominated by the buyer. Cost and risk are divided when the goods are actually on board. 3. Delivered Duty Paid (DDP) –The seller is responsible for delivering the goods to the named place in the country of the buyer and pays all costs in bringing the goods to the destination. For air shipment, it take 7-14 days, and you get more expensive if you choose minimum days and for Ocean, it take 30 to 40 days. #ppctips #ppccampaign #sourcingspecialist

You are a driver for a new company, dispatched to pick up from a location you've been to before. The Bill of Lading (BOL) states the temperature should be set at 36°F for "Fresh," but your dispatch insists it should be 50°F, as requested by the receiver who pays the bill. The shipper tells you to follow the BOL, and you've always set it at 36°F. What do you do? Do you follow the shipper’s instructions on the BOL to maintain the integrity of the product, risking potential conflict with your dispatch and the receiver? Or do you set the temperature to 50°F as instructed by your dispatch, aligning with the receiver’s request but potentially compromising the product quality and your reputation with the shipper?

FreightWaves are one of of the last few true market developers out there. Freight and transportation is the weak link in so many markets and they have addressed it as a commodity in a organized way with indices and now index-linked contracts. A great case study on designing markets.

Trucking is a commodity! Energy, metals and agriculture commodities have been transacted at a differential to a benchmark or index price for decades, making trading easier and more efficient. Why not the same for freight? Using Index-Linked Contracts, with #FreightWaves TRAC and the National Truckload Index (#NTI), will reduce the daily concern over spot price volatility and allow companies to focus on more important things like customer service and operations. #ILC #sonar #freight

Hey decision-makers at freight brokerages!! Question: What docs do you require from a carrier to qualify for entry into your payment queue? Ours are Invoice referencing our load number, SIGNED rate confirmation matching invoice, and legible and signed copies of all pages of BOL. What about you?

For the digital journey in shipping to truly progress, shippers need to begin using the eBL. Today, the vast majority of shipments still happen with the old paper Bill of Lading.  There are so many reasons why you should choose eBL, and at MSC we make it easy for our customers to go paperless. You can read more on www.msc.com/ebl Here’s a video highlighting why you should choose eBill of Lading!

Freight Procurement is broken. Up to 25% of contract tenders are rejected- resulting in lower service levels, disruption, and lost sales. Rebidding #freight is a constant grind, but...𝐈𝐧𝐝𝐞𝐱-𝐋𝐢𝐧𝐤𝐞𝐝 𝐜𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐬 𝐚𝐥𝐢𝐠𝐧 𝐛𝐨𝐭𝐡 𝐬𝐢𝐝𝐞𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐜𝐞. #Shipper and #Carrier receive a neutral market index, contracted rates now move with the selected market index, shipper/carrier may add additional index parameters ➡ Mitigate risks of volatility and allow both parties to focus on operational execution & service. Learn More: https://lnkd.in/gtYvT_Dz

If the company wants 100% compliance in choosing a freight forwarder in terms of rate, they should have a system to choose instead of relying on individuals holding titles. It's important to note that if a person chooses the freight forwarder, there's a risk of rate leakage, whether accepted or not. Currently, we are developing a system to bid on monthly or quarterly basis rates, which cannot be revealed until the bidding ends. Only one top person, such as a VP or COO, can see the rates. By implementing this system, we can secure better rates from forwarders. However, it's crucial to consider factors beyond just rates when choosing a freight forwarder. The decision-maker must gather information from various sources, including ground personnel from site, and conduct thorough research. 😎