Q.What is a Bill of Lading?

A bill of lading is a document issued by the shipping company acknowledging receipt of goods for shipment; it is a receipt for the goods, evidence of the contract of carriage, and a document of title that can be transferred to claim the goods.

Bill of Lading

In the TS Intermediate 2nd-year Commerce foreign-trade unit, the bill of lading is one of the most important shipping documents. When the exporter delivers the goods for export by sea, the shipping company or its agent issues a bill of lading to him.

It performs three functions:

1. Receipt of goods — it is an acknowledgement by the shipping company that the goods described (quantity, marks, condition) have been received on board for carriage.
2. Contract of carriage — it is evidence of the agreement between the exporter and the shipping company for carrying the goods to the named port, on stated terms and freight. …