Bill Of Lading

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DEFINITION of 'Bill Of Lading'

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?

    A bill of exchange is a documentation of payment, much like a promissory note. On the other hand, a bill of lading is a receipt ... Read Full Answer >>
  2. What is an endorsement in blank on a bill of lading?

    A blank endorsement on a bill of lading is an indication that there is no specified recipient of the endorsed bill. A bill ... Read Full Answer >>
  3. What's the difference between a bill of lading and an ocean bill of lading?

    A bill of lading serves as the standard document required for the transportation of a freight shipment. An ocean bill of ... Read Full Answer >>
  4. I have lost my original Bills of Lading. Can I obtain a new set?

    If an original bill of lading is lost, destroyed or stolen, a new bill generally cannot be obtained unless the original has ... Read Full Answer >>
  5. When should I send my master Bill of Lading?

    A master bill of lading should be sent when a carrier leaves a shipping terminal or dock to ship goods to a receiver or shipping ... Read Full Answer >>
  6. What statements can be used on a Bill of Lading?

    One type of statement often found on a bill of lading is a statement of the condition of items being shipped. The statement ... Read Full Answer >>
  7. Can I have more than three original Bills of Lading?

    There is no restriction on the number of bills of lading that can be issued, but the number issued must be stated on the ... Read Full Answer >>
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