CONSIGNED TO ORDER OF

CONSIGNED TO ORDER OF Company Introduction

The term "CONSIGNED TO ORDER OF" does not refer to a specific type of company enterprise in Malaysia, nor is it a business classification like "factory" or "trading company." Instead, it is a crucial phrase used in international shipping documents, particularly on a Bill of Lading.

Explanation:

When a Bill of Lading is marked "CONSIGNED TO ORDER OF" a specific party (e.g., "To Order of the Shipper," "To Order of [Bank Name]," or "To Order of the Consignee"), it signifies that the goods are made available to the party whose order it is. This document acts as a title to the goods, meaning possession of the original Bill of Lading, properly endorsed, is required to take delivery of the cargo. This mechanism is primarily used to control the release of goods, often to ensure that payment or other contractual obligations are met before the buyer can claim the merchandise. It is a common practice in transactions involving Letters of Credit.

Is it a Factory or Trading Company?

Neither directly. A Malaysian company, whether it is a factory (manufacturer) or a trading company, can be involved in transactions where "CONSIGNED TO ORDER OF" terms are used.

1. As a Seller/Exporter: A Malaysian factory or a Malaysian trading company acting as an exporter might request the Bill of Lading to be "Consigned to Order of Shipper" or "Consigned to Order of [Exporter's Bank]". This allows them to retain control over the goods until the buyer fulfills payment obligations, typically by presenting the original endorsed Bill of Lading.

2. As a Buyer/Importer: A Malaysian factory or a Malaysian trading company acting as an importer might receive goods where the Bill of Lading is initially "Consigned to Order of [Seller's Bank]" or "Consigned to Order of Shipper". To claim the goods, the Malaysian importer would need to receive the properly endorsed original Bill of Lading from the seller or the bank, usually after payment has been made or guaranteed.

Therefore, "CONSIGNED TO ORDER OF" is a standard practice in global trade that both manufacturers and trading companies in Malaysia utilize to manage the risks and ensure security in their international transactions.

Please provide the company name "CONSIGNED TO ORDER OF" so I can research and provide a list of their products manufactured or sold in Malaysia.