DIFFERENCE BETWEEN CHARTER PARTY AND BILL OF EXCHANGE

by • 07/01/2013 • GeneralComments (0)345

Q.9 Difference between charter party & bill of lading.

DIFFERENCE BETWEEN CHARTER PARTY AND BILL OF EXCHANGE

CHARTER PARTY BILL OF EXCHANGE
It is neither acknowledgement receipt nor title to goods. If is an acknowledgment of receipt of and a document of title to goods.
It is a lease of (or hiring of) entire ship. It does not mean the hiring of the entire ship.
It has got to be stamped. It has not got to be stamped.
It is not drawn in sets. It is drawn in sets of two or three.
Fright is to be paid in advance the part of destination. Fright is to be paid in advance.
It is not a negotiable instrument. It is considered to be a negotiable instrument.

 

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