A bill of lading is a vital document in commercial law serving as a receipt given by a common carrier to a shipper for goods transported. It evidences the contract between the shipper and the carrier and can also serve as a title document, indicating ownership of the goods.
A Bill of Lading is a legal document issued by a carrier to a shipper, detailing the type, quantity, and destination of the goods being carried. It serves as a shipment receipt and is a key part of international trade.
A CIF contract of sale includes the cost of the goods, insurance, and freight to the destination in the contract price. The seller’s obligation is fulfilled once the merchandise is delivered to the shipper, and relevant documents including the bill of lading, invoice, insurance policy, and payment receipt for freight are forwarded to the buyer.
A transportation term indicating that the price includes delivery at the seller's expense to a specified point and no further.
Lading refers to the cargo that is shipped and transported from one place to another via various modes of transportation such as ships, trucks, trains, or planes. The term also extends to the document known as the Bill of Lading, which acts as a detailed receipt of the shipment, outlines the condition of the cargo, and serves as a contract between the shipper and the carrier.
Taking delivery refers to the acceptance of goods, commodities, or securities by the recipient, with documentation such as a bill of lading, reflecting the transfer and acknowledgment of receipt.
