Bill of Lading

Bill of Lading

A bill of lading (B/L) is a transport document issued by the carrier or its agent to the shipper admitting that goods have been received for shipment to a particular destination and stating the terms on which the goods are to be carried. With a B/L, the consignor can come to the bank for negotiation, and the holder of which can get the goods at the port of destination from the carrier. The B/L, together with the insurance policy and commercial invoices, constitutes the chief documents indispensable to international trade and logistics activity. A B/L is usually negotiable and widely used in maritime transport.

A B/L normally contains the following parts: the name of the shipping company (the carrier), the name of the shipper who is usually the exporter or its agent, the name of the consignee, the notify party the name of the carrying vessel and the voyage no., the two ports (i.e. the port of shipment and the port of destination),marks and numbers, description of goods, total packages, freight charges (freight prepaid or freight to collect),number of original B/L, the signature of the carrier, and the B/L issuing place and date.