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EXPENSES OF LADING

 BILL OF LADING Article

п»їBILL OF LADING (B/L)

A B/L is among the key documents in foreign trade and mostly inside the shipping industry. It is record issued by agent of a carrier into a shipper, fixed by the owner of the yacht to provide evidence that the goods have been received. In a nutshell the B/L is actually a contract between person shipping the goods, the carrier and the receiver with the goods. The B/L is a legal document that must be comprehensive, accurate and. For example , guess that a logistics company need to transport gasoline from a plant in Texas into a gas station in Arizona ( az ) via heavy truck. A plant representative and the drivers would indication the bill of lading following the gas can be loaded onto the vehicle. Once the gasoline is delivered to the gas station in Arizona, the truck drivers must have the clerk at the station signal the record as well. (Investopedia) Below is definitely an image of your B/L:

Figure 1

Number 1 reveals an example of an easy B/L. It contains information just like the names of both the consignor and retenue, the origin and destination factors, the number and description of the goods, their code, their very own respective pounds and also advice about the payment.

You will find two types of B/L:

1 . Straight (uniform) B/L: this consigns the goods to a specific person or company simply. It is considered to be non-negotiable because the goods are sent to the individual signed as consignee simply. 2 . Purchase B/L: this document works extremely well as a evidence of title to transfer name from one person to another. Which is document may be sold to a buyer and the latter might legally claim the goods. It is also known as a negotiable B/L.

The importance of the B/L lies in it is functions.

The B/L can be used as a receipt issued with a carrier to a shipper to get goods which usually s/he received to be transferred. It contains data like the place and date for transport, description in the goods, excess weight, values and amongst others. Additionally it is used as a contract between the parties included. In the contract (B/L)...

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