Bill Of Lading Legal Meaning and Definition

Here is a simplified definition of the legal term Bill Of Lading.

Bill of Lading (noun)

A Bill of Lading is an official document issued by a carrier (such as a shipping company) that serves multiple purposes in the transportation of goods. It includes details about the goods being transported like the description of the item, number (quantity), vessel details, date of shipment, origin (port), consigner (the sender of the goods), and consignee (the recipient of the goods).

1. It functions as a receipt, confirming that the carrier has received the goods.
2. It acts as a contract for the transport of the goods to a specified destination.
3. It serves as a document of title, enabling the seller to get paid and allowing the buyer to claim the goods at their destination.

In sum, the Bill of Lading is a critical piece of documentation in the shipping and trade industries.