Glossary
Bill of Lading
A bill of lading is a legal document issued by a carrier to a shipper that serves as a receipt for goods, a contract of carriage, and a title of ownership. It outlines the details of the shipment, including the type, quantity, and destination of the goods being transported.
What is the purpose of a bill of lading?
It confirms that the carrier has received the goods, provides shipping instructions, and acts as proof of ownership for the receiver.
Who issues a bill of lading?
The carrier (such as a shipping company or freight forwarder) issues the bill of lading to the shipper at the start of transport.
Is a bill of lading legally binding?
Yes. It is a binding contract between the shipper and the carrier that outlines each party's responsibilities and terms of transport.
What types of bills of lading are there?
Common types include straight (non-negotiable), order (negotiable), and electronic bills of lading. Each serves different legal and logistical functions.
Can goods be claimed without a bill of lading?
In most cases, no. The bill of lading is required to release the goods at the destination, especially in international shipping.
Subscribe to our newsletter
Get the latest on finding, evaluating, and working with financial advisors; delivered right to your inbox.
