Is Express release the same as telex release?
Difference between Telex Release and Express Release The significant difference lies in the fact that for a Telex Release, a physical OBL (Original Bill of Lading) is issued, printed, and surrendered. However, for an Express Release there is NO Original Bill of Lading.
What is Express release bill of lading?
The Express Release Bill of Lading, also known as a seaway bill, is the quickest variation of a bill of lading and is used in cases where the shipper has decided in advance to release their hold on the cargo immediately. In this case, an original is never issued.
What is the difference between telex release and surrender?
A freight carrier typically issues a telex release after all original copies of the bill of lading are surrendered. A telex release allows the carrier’s agent to release the cargo at one port even though the shipper surrendered the original bill of lading at a different port.
What is the difference between OBL and telex release?
An original Bill of Lading is a paper bill of lading issued to a customer whereas a Telex Release is an electronic release issued in return for the surrender of an original Bill of Lading.
Is Sea Waybill same as telex release?
It is normal practice for the shipper to send the customer a confirmation message on the surrender of the original seaway bill. This method is called Telex Release. An ocean carrier will need all the original copies of the seaway bill to be surrendered at their office.
How does an express release work?
An Express Release means that the original HBL was never issued or printed. In these cases, the shipper has typically fully released the goods from the start and they are not pending any type of payment for the goods.
What is telex release fee?
Telex Electronic Cargo Release/EDI Fee Description: This charge is applied to cover the cost of sending forms and messages to ports, CBP, and other government and quasi-government agencies, either by telex or electronic data interchange (EDI) mode.
Who pays for telex release?
the shipper
4. Who pays for telex release? In most cases, the shipper is responsible for paying the telex fees.
Is Express BL and Sea Waybill are same?
Sea Waybill (SWB) Also known as “Express Release Bill of Lading” or “Straight Bill of Lading,” a Sea Waybill is used when the shipper decides to release ownership of the cargo immediately.
What is difference between express BL and Sea Waybill?
The original bill of lading can be consigned to the order of consignee, a bank or shipper. These bills of lading can be endorsed to a third party during the transit of the goods. A Sea waybill of lading is not a document of title to the goods and cannot be negotiated.
What does telex mean in shipping?
A telex release is, in essence, an electronic message transmitted from an agent or shipping line at the port of loading (POL) to the agent at the port of discharge (POD). This message signifies that the shipper has surrendered the original Bill of Lading (OBL).
What is a release fee?
Any fee or amount required to be paid by an Applicable Underlying Borrower to Borrower in consideration for the release of all or a portion of any Applicable Underlying Loan Collateral from the Lien of an Applicable Mortgage or any other Lien in favor of Borrower.