Telex Release means that carrier is ready to transfer cargo to the consignee. Typically, carriers carefully watch over the payment of all fees declared in the bill of lading, and only then make release.
Telex Release also known as a Express Bill of Lading. What happens here is that the Shipping Company issues an Original but they do NOT give the original to your Supplier. They stamp it Telex Release and SURRENDERED and fax it to your Supplier, who, in turn, faxes you a copy. You can then fax it to your Customs Agent, who will then clear the goods WITHOUT an Original. The Shipping company then sends a telex (that’s in the old days, these days it’s email or fax) to their Agent in the destination Port and advises them that they are holding the originals, and to release the goods to you without an Original B/L.