Bill of Lading (B/L)
A shipping document acknowledging receipt of goods for transport.
Detailed Description
Bill of Lading (B/L)
What are the main functions of a Bill of Lading?
The main functions are to serve as a receipt for goods, a contract of carriage, and a document of title.
What is the difference between a Straight Bill of Lading and an Order Bill of Lading?
A Straight Bill of Lading is non-negotiable and consigned to a specific party, while an Order Bill of Lading is negotiable and can be endorsed to transfer title.
What key information is included in a Bill of Lading?
Key information includes shipper's and consignee's details, carrier information, description of goods, shipping instructions, freight charges, and date and place of issue.
How does a Bill of Lading facilitate international trade?
It facilitates ownership transfer, ensures compliance with regulations, and is often required for customs clearance and payment processes.
What should a shipper do if a Bill of Lading is lost?
The shipper should notify the carrier immediately and may need to provide a letter of indemnity to obtain a replacement.