Bill Of Lading

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What is a 'Bill Of Lading'

A bill of lading is a legal document between the shipper of a particular good and the carrier detailing the type, quantity and destination of the good being carried. The bill of lading also serves as a receipt of shipment when the good is delivered to the predetermined destination. This document must accompany the shipped goods, no matter the form of transportation, and must be signed by an authorized representative from the carrier, shipper and receiver.

BREAKING DOWN 'Bill Of Lading'

For example, suppose that a logistics company must transport gasoline from a plant in Texas to a gas station in Arizona via heavy truck. A plant representative and the driver would sign the bill of lading after the gas is loaded onto the truck. Once the gasoline is delivered to the gas station in Arizona, the truck driver must have the clerk at the station sign the document as well.

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RELATED FAQS
  1. What is the difference between a bill of exchange and a bill of lading?

    Understand what a bill of exchange and a bill of lading are and the different purposes they each serve as documents used ... Read Answer >>
  2. What is an endorsement in blank on a bill of lading?

    Learn how a bill of lading is an international trading tool and binding contract that ensures owners receive their merchandise ... Read Answer >>
  3. What's the difference between a bill of lading and an ocean bill of lading?

    Understand the difference between a bill of lading and an ocean bill of lading. Both documents serve as receipts for freight ... Read Answer >>
  4. I have lost my original Bills of Lading. Can I obtain a new set?

    Find out why an original bill of lading cannot be replaced if it is lost or stolen and how a court order must be obtained ... Read Answer >>
  5. Can I have more than three original Bills of Lading?

    How many bills of lading copies are allowed when importing or exporting? Should I ship by air or sea? What type of bill of ... Read Answer >>
  6. What statements can be used on a Bill of Lading?

    Read about statements that can appear on a bill of lading for items shipped by ocean, land and air as well as some financial ... Read Answer >>
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