Russ,
You got it right, except it is LFVC = "LOADED to full
visable capacity". Also, as a piece of negotiable
paper, an order bill of lading has a lot of legal
principles, such as rights of holders in due course,
etc., to be honest, that I haven't thought about since
I studied for the Bar Exam!
John D. Mitchell, Jr.
--- Russell Strodtz <vlbg@e...> wrote:
> 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/
> >
> >
> >
>
>
>
__________________________________________________
Do you Yahoo!?
HotJobs - Search new jobs daily now
http://hotjobs.yahoo.com/
|