Important Document - Bill Of Lading (B/L)

Important Document - Bill Of Lading (B/L)

5/23/2014 Mine Yılmaz 2036 Times Read

Bill of lading or B/L is a receipt used in the shipping industry. This receipt is the acknowledgement for the receipt of goods that are to be shipped. It is used as a means to maintain record and it may also be used for legal purposes. The receipt carries specific details of the goods that are being shipped, the name of the companies, modes of shipping and the value of the contract. Bill of lading is therefore the most important document in the shipping industry.

Bill of lading serves as a legal evidence of the cargo being shipped. The document is only issued after the carrier has received the goods and has inspected them thoroughly. This way if the goods are undamaged when they were received than any damage occurring during shipping will be the carriers fault. However, if the goods were already damaged when they were received at the carrier, than the carrier is not liable for any such damages.

Another important function of this document is that it serves as proof that the carrier has a contract to ship the goods. If the cargo does not have the bill of lading attached to it, than the carrier is deemed to be operating illegally. It also serves as a way to authenticate the recipient. In case the recipient does not have appropriate documents supporting his claim on the cargo, the carrier is authorized to keep the goods in its custody until such a document is produced.

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