Bill of Lading: It is a document issued by the shipping company or its agent acknowledging the goods mentioned there in, on board the carrying vessel, in apparent good order and condition unless other wise indicated there in, for shipment to the consignee on terms & conditions as agreed upon as to their carriage. It is a document of title to the goods described in it.
As per bill of lading Act-1856 it is the transport document of the bills which is applicable to a carriage of goods solely by sea.
Bill of lading is a quasi negotiable instrument.
Particulars of a Bill of Lading:
1. Name of the shipper, consignee & notify party with address.
2. The name of the carrying ship.
3. Evidence that the goods have been loaded on board.
4. The port of shipment and discharge.
5. The shipment date.
6. Amount of freight paid or unpaid.
7. Shipping marks etc.
Different kinds of Bill of Lading
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