BILLS OF LADING.

New Zealand Herald, Volume LIX, Issue 18218, 11 October 1922, Page 10

BILLS OF LADING.

PAYMENTS FOR WOOL. A DISABILITY REMOVED, ADVANCES BEFORE SHIPMENT. [BY. TEtEGBAFH.—SPECIAL REPORTER.] WELLINGTON. Tuesday. In moving the third roading of the Sea Carriage of Goods Bill, the Leader of the Legislative Council. Sir William Fraser, said that under the bills of lading in existence during the war it was impossible for the banks to pay for wool shipped for overseas ports while it was actually on board the ships. The removal of this disablity was not accomplished in the original Bill introduced this session. He had done his best to remove the obstacles referred to. The .banks would be enabled to make advances under a " received for shipment" bill of lading. The amendment reads as follows:—1. "* In this section the expression ' receiyod for shipment' bill of lading means a shipping document, issued in accordance with the provisions of this section, signed by a person purporting to be authorised to sign the same, and acknowledging that the goods to which the document relates havo been received for shipment. 2. No ' received for shipment' bill of lading shall bo issued (a) until tho goods are in the possession of the owner of tho ship, or of some person duly authorised on his behalf -. (b) except for a named ship in which space has been actually reserved (c) earlier than twenty-one days before the time when the ship is expected to be in port in readiness to load : but the issue of a ' received for shipment' bill of lading shall be sufficient evidence until tho contrary 13 proved that tho requirements of this sub-section have been complied with. 3. Every 'received for shipment' bill of lading shall contain a provision, that in the event of the goods being unavoidably shut out from tho named ship, the shipowner shall forward the goods by hia next available ship, or at his option by a ship of some other owner; or by a ship sailing within a specified number of days, but otherwise on the same terms and conditions, mutatis mutandis, as if the goods were actually shipped by the named ship. 4. Every 'received for shipment' bill of lading shall for all purposes be deemed to bo a valid bill of lading with the same effect, and capable of negotiation in all respects, aud with the same consequences as if it were a bill oS lading acknowledging that the goods to which it relates had been actually shipped on board." The Bill was passed as amended.