BILL LADING Meaning and
Definition
-
A bill of lading, also known as a bill lading or B/L, is a legal document that serves as evidence of the contract of carriage and receipt of goods between a shipper (or consignor) and a carrier (such as a shipping line or a freight forwarder). It functions as a receipt of goods, a document of title, and a contract of carriage.
The bill of lading contains various key details, including the names and addresses of the shipper and consignee, the description of the goods being transported, the quantity or weight of the goods, the place and date of shipment, the name of the vessel or carrier, and the terms and conditions of the contract. This essential document provides proof that the goods have been received by the carrier in good condition, acts as a title document that can be used to transfer ownership of the goods, and serves as a legally binding contract between the shipper and the carrier.
In international trade, the bill of lading also serves as a basis for various documentary credits and other payment arrangements. It plays a crucial role in facilitating smooth and secure international trade transactions by providing a clear record of the shipment, ensuring the proper transfer of ownership, and protecting the interests of all parties involved in the transportation of goods.
Common Misspellings for BILL LADING
- vill lading
- nill lading
- hill lading
- gill lading
- bull lading
- bjll lading
- bkll lading
- boll lading
- b9ll lading
- b8ll lading
- bikl lading
- bipl lading
- biol lading
- bilk lading
- bilp lading
- bilo lading
- bill kading
- bill pading
- bill oading
- bill lzding
Etymology of BILL LADING
The term "bill of lading" has an interesting etymology. It comes from Middle English, with "bill" derived from the Old English word "byll" meaning a written document or letter. "Lading" comes from the verb "lade", which means to load or to put a load on a ship.
The combination of "bill" and "lading" refers to a document that serves as evidence of the goods or cargo loaded onto a ship. It originated in the shipping industry as a written acknowledgment of the receipt of goods for transport. Over time, this document evolved into what we now call a "bill of lading", which outlines the details of the shipment, including its origin, destination, content, and conditions of transport.
Similar spelling words for BILL LADING
- bidding,
- blinding,
- beading,
- leading,
- loading,
- Bloating,
- balloting,
- billing,
- bleeding,
- billowing,
- building,
- Bleating.
Infographic
Add the infographic to your website:
