Bill Of Lading


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.


Loading the player...

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.

  1. Assembly Service

    Combining a number of small shipments from multiple parties into ...
  2. Mothballing

    The preservation of a production facility without using it to ...
  3. Logistics

    The overall management of the way resources are obtained, stored ...
  4. Supply Chain

    The network created amongst different companies producing, handling ...
  5. Just In Time - JIT

    An inventory strategy companies employ to increase efficiency ...
  6. Cash On Delivery - COD

    A type of transaction in which payment for a good is made at ...
Related Articles
  1. Investing

    How to Use a Bill of Lading

    A Bill of lading, sometimes called a BL or BoL, is a legal document between a shipper of a good, and a transporter or carrier. It is often used in international trade. The word “lading” derives ...
  2. Insurance

    Working Capital Works

    A company's efficiency, financial strength and cash-flow health show in its management of working capital.
  3. Fundamental Analysis

    Inventory Valuation For Investors: FIFO And LIFO

    We go over these methods of calculating this component of the balance sheet, and how the choice affects the bottom line.
  4. Investing Basics

    Why Interest Rates Affect Everyone

    Learn why interest rates are one of the most important economic variables and how every individual and business is affected by rate changes.
  5. Economics

    Investing Opportunities as Central Banks Diverge

    After the Paris attacks investors are focusing on central bank policy and its potential for divergence: tightened by the Fed while the ECB pursues easing.
  6. Economics

    Understanding Donald Trump's Stance on China

    Find out why China bothers Donald Trump so much, and why the 2016 Republican presidential candidate argues for a return to protectionist trade policies.
  7. Markets

    Will Paris Attacks Undo the European Union Dream?

    Last Friday's attacks in Paris are transforming the migrant crisis into an EU security threat, which could undermine the European Union dream.
  8. Investing

    World Bank Data For Dummies

    Developing countries can't always afford to track the data crucial to setting the right economic policies and programs. That's where the World Bank steps in.
  9. Economics

    Currency Swap Basics

    A currency swap involves two parties exchanging a notional principal and interest to gain exposure to a desired currency.
  10. Investing Basics

    General Agreement on Tariffs and Trade (GATT)

    The General Agreement on Tariffs and Trade was a treaty created after World War II that regulated world trade in an effort to aide economic recovery.
  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. 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 >>
  7. 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 >>

You May Also Like

Hot Definitions
  1. Take A Bath

    A slang term referring to the situation of an investor who has experienced a large loss from an investment or speculative ...
  2. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  3. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  4. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  5. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  6. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
Trading Center