Document background
The Ad Valorem Bill of Lading is a critical document in international maritime trade, particularly for high-value shipments where standard liability limitations may be insufficient. Used extensively in Hong Kong's bustling port operations, this document type differs from regular bills of lading by explicitly stating the cargo's value, which affects carrier liability and insurance coverage. The document must comply with Hong Kong's maritime law framework, including the Bills of Lading and Analogous Shipping Documents Ordinance and the Carriage of Goods by Sea Ordinance. It serves three essential functions: receipt for goods, evidence of the contract of carriage, and a negotiable document of title. This specialized form is particularly relevant when shipping valuable cargo where accurate value declaration is crucial for commercial, legal, or insurance purposes.
