Pete,
While I ain't John but that's a pretty easy one. Order Notify
bills of lading are negotiable instruments.
The waybill consignee field has to be filled in in this format:
"Order of Glenwood Packing"
"Notify AB&C Meat Merchants"
It can be presumed that the original bill of lading, (there was
a special form), that was signed by the carrier's representative
was mailed to AB&C Meat Merchants.
When the car gets to say, New York 33rd St the NYC will notify,
by phone, face to face, or in writing that the car has arrived. If
they can produce an endorsed, (just like a check), original bill of
lading then they can unload the meat. (This presumes that they
either have credit or the car was prepaid).
The advantage is that that bill of lading is an negotiable instrument.
If AB&C does not want the meat that bill of lading can be endorsed
over to another party. They can, quite literally, stand next to the
car and wait until a meat wholesaler drives by, let him look inside
at the product, and endorse the bill of lading over to him and it is
his property. No bill of sale is required. They can verbally agree
on a price and it is a valid contract.
At one time this was the primary way that the big meat and produce
terminals worked. The butchers and grocers would drive over and
pick their purchases right out of the cars they were shipped in.
As has happened to me a number of times; what happens if it gets
lost in the mail or is not available? The Agent at the origin station
would get a wire from the destination saying that the "notify" party
could not produce the bill of lading. Then, if the shipper has been
paid for the product, you get a notarized letter releasing the car to
a certain party. You could wire that information to the destination
and they could legally release the car.
LFVC = Level Full To Visible Capacity
Russ
----- Original Message -----
From: <PSHedgpeth@a...>
To: <BRHSlist@yahoogroups.com>
Sent: Monday, 04 November, 2002 10:45
Subject: [BRHSlist] Some more "new" old stuff
> JOhn Mitchell
>
> While we're digging around in the attic of old stuff, why don't you give
us a
> little treatise on "Shippers Order Notify" bills of lading.
>
> That should rank right up there with LFVC.
>
> Pete
>
>
> [Non-text portions of this message have been removed]
>
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
|