Original B/L

The Original B/L is the legally valid original document for taking delivery of goods issued by the carrier or its agent. It is usually issued in a set of three, and once one copy is used to take delivery of the goods, the remaining copies automatically become invalid. It is a document of title, representing ownership of the goods, and can be used for negotiation, mortgage, or transfer. Its use scenarios include letter of credit settlement, documentary collection, and telegraphic transfer, among others. Especially in ocean shipping, the consignee must present the Original B/L to take delivery of the goods. Points to note: The Original B/L must be kept properly; if lost, a public announcement must be made in a newspaper and a deposit must be paid. Unlike a Copy B/L, which is for reference only and cannot be used to take delivery of goods, and compared with a Telex Release, the Original B/L circulates more slowly but is safer, making it suitable for large-value transactions or customers with poor credit. In addition, straight B/L, order B/L, and bearer B/L all fall within the scope of the Original B/L, but their transfer rules differ. Foreign trade practitioners should clearly specify the requirements for the type of B/L in contracts and letters of credit to avoid refusal of payment due to discrepancies in documents.