What Can You Do when Original Bill of Lading is Lost?
Recently, an export enterprise approached us for help. The original bill of lading was lost while the company was sending the original bill of lading to the overseas customer. After communication with the shipping company, the shipping company required the export enterprise to issue the loss guarantee and prepare a deposit twice the value of the goods before releasing the goods. For export enterprises, or twice the deposit is a great use of working capital. Therefore, ask us if there are other ways to solve the problem.
The loss of the bill of lading can be solved by applying to the court for public notice procedure. If the maritime court decides to accept the application for public notice, it shall issue a public notice within three days urging the interested parties to declare their rights. The period for publicizing a public notice shall be determined by the maritime court according to the circumstances, but shall not be less than 30 days. After the expiration of the public notice period, when no interested person declares his rights, the people's court makes a judgment declaring the lost bill invalid according to the application of the applicant.