The Relationships of Bill of Lading, Charterparty and Other Transport Documents

The bill of lading plays a vital role in international trade. In addition, the charterparty is a legal contract of employing a vessel between the shipowner and the charterer. In shipping matters, charterparty and bill of lading are highly important documents since they allocate risks, obligations, rights, earnings, costs and profits between the contracted parties, namely the shipowner (or carrier) and the charterer (or shipper). Therefore, this paper constitutes an overview of the commercial and legal aspects ensued from the relationship between the bill of lading, the charterparty and other documents such as booking note, cargo manifest, mate’s receipt, delivery order etc. Furthermore, this paper examines the life cycle of bill of lading and charterparty in the bulk and liner markets and how this will be affected by the digitalisation in shipping. The analysis is based on the shipping practices followed in accordance with the legal regime of bill of lading and charterparty.