What Is Bill Of Lading And Its Functioning In International Trade?


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Manoj Nair Profile
Manoj Nair answered
A bill of lading, is a receipt issued to shipper, in confirmation of receipt of goods apparently in good condition, by the freight forwarder/shipping company for the agreed dispatch.

It's the proof or evidence of contract of carriage between shipper & freight forwarder/shipping company.

A bill of lading hold title of goods, against which delivery can be claimed / demanded by the shipper/consignee at the agreed destination where the liner/forwarder is responsible to deliver the goods.
amber Jhon Profile
amber Jhon answered
A bill of lading is also referred as BOL or B/L is a document that is issued by a carrier such as ship's master to acknowledge that specific products have been received for conveyance and delivery to the consignee. There are four types of bill of lading including Straight bill of lading, order bill of lading, bearer bill of lading and surrender bill of lading. Example of bill of lading is Southern Railway Company bill of lading (1906). It is considered very important in the international trade because in trade transportation of goods is carried out via sea therefore, the transport documents are prepared. Therefore, a bill of lading in international trade acts as an evidence of the contract of the transportation of goods by sea.

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