Bill of lading

[Former Member]

Hi

What is a Bill of lading and the use of this.

Thanks

[Former Member]

Thank you all

[Lakshmipathi]

Dear Manoj

As like in domestic sales where you receive LR copy from the transporter once you hand over the goods, in Exports once the cargo is handed over to the Shipping Agent (one who owns the Vessel), as a token of acceptance, they will release a document which is nothing but Bill of Lading.

Once they release this document, it is their liability to hand over the cargo to the destination port safely.

This document is one of the commercial documents in exports and the exporters along with other commercial documents like Invoice, Packing List, GSP etc., they will also attach this Billing of Lading and submit the documents to their bankers. The bankers in turn, according to the agreement, will route the documents either to the importers' bank or directly to the importer.

The importer, only on showing the original Bill of Lading, will be able to clear the import cargo from their port.

thanks

G. Lakshmipathi

[Former Member]

Dear Manoj,

Bill of Lading is d official document prepared by d carrier duly accepting d goods for shipment. It contains d info like item, quantity, value, vessel details, date, port, consigner , consignee etc. It is basically a contract 2 carry the goods 2 the said destination based on which seller can claim consideration and buyer can take delivery of the goods

This following link will give in depth knowledge of d same:

http://www.apparelsearch.com/Definitions/Shipping_Freight/bill_of_lading.htm

regards

PARAM

[Former Member]

A Bill of Lading is a type of document that is used to acknowledge the receipt of a shipment of goods and is an essential document in transporting goods overland to the exporter's international carrier. A through Bill of Lading involves the use of at least two different modes of transport from road, rail, air and sea. The term derives from the noun "bill", a schedule of costs for services supplied or to be supplied, and from the verb "to lade" which means to load a cargo onto a ship or other form of transport.

In addition to acknowledging the receipt of goods, a Bill of Lading indicates the particular vessel on which the goods have been placed, their intended destination, and the terms for transporting the shipment to its final destination. Inland, ocean, through, and airway bill are the names given to bills of lading.

It is used in Export Process and Import Process..

Edited by: srinivasarao p on Sep 30, 2008 9:14 AM

[Former Member]

Hi

Bill of lading is used to acknowledge the receipt of a shipment of goods.

E.g. transportation company or carrier issues this document to a shipper.