Document issued by a carrier (or their agent) to acknowledge receipt of cargo for shipment
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A bill of lading (/ˈleɪdɪŋ/) (sometimes abbreviated as B/L or BOL) is a document issued by a carrier (or their agent) to acknowledge receipt of cargo for shipment.[1] Although the term is historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods.[2] Bills of lading are one of three crucial documents used in international trade to ensure that exporters receive payment and importers receive the merchandise.[3] The other two documents are a policy of insurance and an invoice.[a] Whereas a bill of lading is negotiable, both a policy and an invoice are assignable. In international trade outside the United States, bills of lading are distinct from waybills in that the latter are not transferable and do not confer title. Nevertheless, the UK Carriage of Goods by Sea Act 1992 grants "all rights of suit under the contract of carriage" to the lawful holder of a bill of lading, or to the consignee under a sea waybill or a ship's delivery order.
An example of a bill of lading
A bill of lading must be transferable,[4][b] and serves three main functions:
it is a conclusive receipt,[5] i.e. an acknowledgement that the goods have been loaded;[c] and
it contains, or evidences,[d] the terms of the contract of carriage; and
it serves as a document of title to the goods,[6] subject to the nemo dat rule.
Typical export transactions use Incoterms terms such as CIF, FOB or FAS, requiring the exporter/shipper to deliver the goods to the ship, whether onboard or alongside. Nevertheless, the loading itself will usually be done by the carrier or by a third party stevedore.
^"BILL OF LADING (B/L) Definition & Legal Meaning". Black's Law Dictionary (2nd ed.). 12 October 2012. Retrieved January 24, 2023.
^Carriage of Goods by Sea Act 1992 s.1(2)b
^"UNCTAD" (PDF). unctad.
^Carriage of Goods by Sea Act 1992 s.1(2)
^Carriage of Goods by Sea Act 1992 s.4
^Levi, Maurice D. (2005). International Finance, 4th Edition. New York, NY: Routledge. ISBN 978-0-41-530900-4.
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Uniform BillsofLading Act was adopted in 1909 and passed by the U.S. Uniform Law Commission. The act addressed the judicial and legislative treatment of issues...
place of the legitimate consignees. The key to resolving such disputes lies in the documentation. The standard form of contract is a billoflading which...
invoice, shipper's export declaration, bill of lading and other documents required by the carrier or country of export, import, and/or transshipment. Modern...
without the issuance of a billoflading. In the reverse case, if a carrier issues a third-party shipper with a billoflading that incorporates charterparty...
of the Act, a sea waybill is: "any document which is not a billoflading but is such a receipt for goods as contains a contract for the carriage of goods...
days. Australian Business Number Billoflading Cash collection Commercial invoice Document automation Dunning List of accounting roles Order (business)...
letter of credit will request an original billoflading as the use of a title document such as this is critical to the functioning of the letter of credit...
receipt in Wiktionary, the free dictionary. BillofladingBillof materials Billof sale Certificate of origin Delivery order Document Document automation...
clauses in billsoflading for the benefit of employees, crew, and agents, stevedores in particular. The clause takes its name from a decision of the English...
carriers in computer systems and shipping documents such as BillofLading, Freight Bill, Packing List, and Purchase Order. It is also used by the American...
shipped or endorsed billoflading is a document of title at common law, i.e. a document which can be owned and therefore the ownership of it could be sold...
at a freight rate for commercial gain. The term cargo is also used in case of goods in the cold-chain, because the perishable inventory is always in transit...
braille shorthand for blind Bakerloo line, a London Underground line Billoflading, a receipt issued by a shipping carrier Blessed, an honorific prefix...
advance of modern communication methods. Although it provides information similar to the Billoflading, its function is very different. While the Billof lading...
not to deviate from it). Consignees (or indeed any lawful holder of the billoflading) who wishes to make a cargo claim because their goods are substandard...
carrier or other person who in the course of their ordinary business issues warehouse receipts or billsoflading. According to the Uniform Commercial Code...
printed as the fine print behind the shipping documents like billoflading, air way bill, or consignment note. These standard trading conditions state...
Law of Carriage of Goods by Sea; but since 1992 it has no longer been good law. This was an action upon the case by the indorsees of a billoflading, against...
the bearer of cheque, Certificate of deposit, BillofLading (a BillofLading is a "document evidencing the receipt of goods for shipment issued by a person...
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