What is a 'Uniform Bill Of Lading'?

A uniform bill of lading is an agreement between an exporter and a carrier regarding property to be transported. The uniform bill of lading provides basic information about the shipment such as the shipper and recipient's names and the shipment's origin and destination. In addition, the document establishes the terms of the carrier's liability, transport time frame, how to file a claim for a lost or damaged shipment, how insurance will be applied in the event of a claim and how the shipment may be stored or disposed of if the shipment is refused or is not deliverable.

BREAKING DOWN 'Uniform Bill Of Lading'

The uniform bill of lading also specifies the carrier's liability with regard to specific types of shipments including documents, coin money, items of extraordinary value and explosives. Additional shipment charges may be assessed if the shipper misrepresents the type of goods being transported.

Components of the Bill of Lading 

The bill of lading also represents proof of delivery when the goods are delivered to the destination and signed for by the receiver. These statements reflect either the shipper's representations to the carrier of the terms of the service or the carrier's notes from its own inspection of the goods. If the bill of lading notes the defective condition of the goods or their packaging, it is considered  "claused" or "fouled." If no defects are noted, it is considered a "clean" bill of lading.

The Bill of Lading states that the carrier is responsible for loss, damage, delay and liability in the transportation of the goods for shippers from the time the carrier receives the goods until delivery is complete. The carriers is responsible for full actual loss. If the receiver finds the freight damaged or unacceptable, the bill of lading can be used as a legal document to dispute the delivery of goods in accordance to the provisions of Title 49 of the Code of Federal Regulations Section 1005, Section 14706, the Carmack Amendment.

Changes in the Uniform Bill of Lading

Changes were made to the uniform bill of lading that came into effect in August 2016. The new standard imposed liability only for carriers "shown as transporting the property" on the bill of lading when damages occur. The new rules also changed the time requirements for carriers to complete deliveries. According to Inbound Logistics, the new bill extended the delivery time from reasonable periods to within the "regular course of providing transportation services."

RELATED TERMS
  1. Through Bill Of Lading

    A bill of lading that allows the transportation of goods both ...
  2. Ocean Bill Of Lading

    An ocean bill of lading is a document required for the transportation ...
  3. Claused Bill Of Lading

    A claused bill of lading shows a shortfall or damage in the delivered ...
  4. Private Carrier

    A private carrier is a company that uses its own fleet to deliver ...
  5. Common Carrier

    A common carrier is a commercial entity that gets paid to transport ...
  6. Free Carrier - FCA

    Free carrier is a trade term specifying a delivery location for ...
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. Insights

    Apple Is Expanding Mobile-Carrier Billing

    Apple has launched its mobile-carrier billing services in Japan, Singapore and Taiwan, to facilitate purchases with just a tap.
  3. IPF - Banking

    Procrastinator’s Guide to Bill Payment

    Learn how to avoid punishing late fees and keep your credit score intact with these 10 tips on paying your bills in a timely fashion.
  4. Investing

    Bill of Exchange

    A bill of exchange is a document used in international trade to pay for goods or services. It is signed by the person promising to pay, and given to the person entitled to receive the money. ...
  5. Personal Finance

    8 Steps To An Organized Financial Life

    Disorganization makes planning difficult, and that can cost you big-time. Follow these 8 steps to an organized financial life.
  6. Insights

    American Airlines Uniform Manufacturer Speaks Out About Complaints (AAL)

    The manufacturer behind American Airlines’s new uniforms penned a letter saying that, despite complaints, its uniforms are safe to wear.
  7. Personal Finance

    What to Do When You Can't Pay Your Medical Debts

    There’s no shame in having medical debt that you can't pay. Here's how to get help.
  8. Taxes

    Your Property Tax Assessment: What Does It Mean?

    Understanding your property taxes can protect you from financial shocks.
  9. Insights

    Erin Brockovich Rumored to be Interested in American Airlines Uniform Issue (AAL)

    Staff at American Airlines say their uniforms are causing allergic reactions, but the airline says the uniforms are safe.
  10. Personal Finance

    Fed Will Print More $50 Bills This Year

    It costs three times more to produce a $50 bill than a $1 bill. Here's why:
RELATED FAQS
  1. 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 >>
  2. What is the difference between Cost and Freight (CFR) and Free on Board (FOB)?

    Learn some international Incoterms, and find out about the difference between free on board shipping and cost and freight ... Read Answer >>
  3. Shipping Freight: CFR Versus CIF

    In shipping freight, find out about the difference between cost and freight (CFR) and cost, insurance and freight (CIF), ... Read Answer >>
Trading Center