Why Surrender Bill of Lading?

A surrender bill of lading is a document issued by exporters that allows importers to legally own the items the exporter shipped. ... When a surrender bill of lading is used, exporters cannot claim any rights or power over the items after importers pay.

Why bill of lading is being surrendered?

When the importer has completed the payment of the goods, the exporter gives up his rights over the sent goods and cannot reclaim the ownership. Surrender BL is necessary for the transfer of ownership of goods.

What is difference between surrender BL and telex release?

A freight carrier typically issues a telex release after all original copies of the bill of lading are surrendered. A telex release allows the carrier's agent to release the cargo at one port even though the shipper surrendered the original bill of lading at a different port.