Meaning of bill of lading

1. The bill of lading is a legal document that serves as proof of shipment and ownership of goods.
2. The carrier will not release the cargo without the presentation of a properly signed bill of lading.
3. The bill of lading should accurately describe the quantity, weight, and condition of the goods being shipped.
4. In case of any discrepancies, the bill of lading can be used as evidence in resolving disputes between the shipper and the carrier.
5. The bill of lading is an important document for international trade, as it provides details about the cargo and its destination.
6. The bill of lading must be signed by both the shipper and the carrier before the goods can be transported.
7. The bill of lading can also be used as collateral for financing purposes in some cases.
8. The bill of lading is usually issued in multiple copies, with one copy being kept by the shipper, one by the carrier, and one by the consignee.
9. Before accepting the delivery, the consignee should carefully review the bill of lading to ensure that all information is correct.
10. Lost or stolen bills of lading can cause delays in the delivery of goods and may require legal action to resolve.