Differentiate between Charter Party and Bill of Lading. (V. Imp.)

Points of Distinction

Bill of Lading

Charter Party

1. When used

2. Negotiability

3. Types

4. Receipt of goods and document of title.

5. Clauses and warranties.

6. Colleteral security.

7. Agreement.

8. Description of goods.

• When some space is hired in a ship to carry a small consignment.

• Transferable by endorsement and delivery. Semi negotiable

• (a) Clean Bill of Lading. (b) Foul Bill of Lading.

• Receipt for goods and document of title to the goods.

• Does not mention loading and unloading days or lay days.

• It can be used as collateral security to borrow money.

• Not an agreement for live of ship.

• Gives details of goods to be shipped.

• When the full ship is hired to carry a big consignment.

• Not transferable or negotiable at all.

• (a) Time charter. (b) Voyage charter.

• Neither a receipt nor a document of title only an agreement.

• States days allowed for loading and unloading of goods. Contains terms and conditions.

• It cannot be used a s collateral security.

• Agreement for living the full ship or a subational part of.

• Does not contain details of goods.