20140503

bill of lading (B/L)

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TERM OF THE DAY

bill of lading (B/L)

document issued by a carrier, or its agent, to the shipper as a contract of carriage of goods. It is also a receipt for cargo accepted for transportation, and must be presented for taking delivery at the destination. Among other items ofinformation, a bill of lading contains (1) consignor's and consignee's name, (2)names of the ports of departure and destination, (3) name of the vessel, (4)dates of departure and arrival, (5) itemized list of goods being transported with number of packages and kind of packaging, (6) marks and numbers on the packages, (7) weight and/or volume of the cargo, (8) freight rate and amount. Itserves as a proof of ownership (title) of the cargo, and may be issued either in anegotiable or non-negotiable form. ...
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Usage Example
In the case of damage to goods being delivered, a bill of lading is required when making a claim for compensation of the damage.
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