Trade & shipment
For any organization, the trade, and the business it does with its customers and clients is important. It is because of this business and trade does it get the revenue and makes a name for itself. In order to be a good trader and to be the best in the market, an organization needs to adhere to certain policies and to certain terms. These terms and these entities are the steps to become a better trader and to make a name for oneself in the market. One of these is a bill of lading.
A bill of lading can be defined as a legal document which is regulated between the shipper (organization) of a particular good and the carrier.
When trade between countries expanded companies needed a legal document. Bill of lading is a legal document and it is duly signed by the shipping company and the carrier. The document is issued by the carrier of goods, to acknowledge receipt of the cargo to the drop off destination.
The bill of lading documents is used for transportation of any type of goods around the globe and is a common practice among companies which deliver goods.
The bill of lading highlights:
- What types of goods are carried by the company on behalf of the shipping company?
- The number of goods carried.
- Destination of goods to be carried and dropped.
- Terms and conditions of the contract of cargo.
- A proof that goods have been uploaded.
Bill of lading is an important document before you hand over your merchandise to the shipping company. It is duly signed by the agents to transfer the goods in a safer way. The sender and the receiver both get benefits. The document is used for international trade as well. The exporters receive the payments and the importers receive the goods. There might be a slight delay in the transfer of goods, but nothing is missed out.
Types of the bill of lading:
Bill of lading can be of following forms:
- On-board bill of lading:
This form proofs that the goods are being physically loaded on the cargo plane, ship or any other transportation vehicle used.
- Received-for-shipment bill of lading:
It shows that the goods have been received but there is no proof that these are transferred or loaded on the shipping vessel. This form of the bill can be converted when the merchandise is being loaded.
Uses of a bill of lading:
Bill of lading is an important document for import and exports. The document has played a vital role in the international trade and is encouraging the companies to trade from all the continents. Following benefits cannot be neglected:
- The document gives a sense of trust and security to the shipping company that the merchandise will be delivered to the proper destination on time.
- The legal document highlights all the terms and conditions between both the shipping company and the receiver.
- In case of any damage or loss, the carrier is bound to pay for the merchandise.
- It manages the on-time delivery of goods at the mentioned destination.
In the bill, of lading various details about the product and shipment are mentioned such as the type of the product or the shipment, the quantity and the destination of the good is being carried. Many times this bill of lading is also used as a receipt for various shipments and for various consignments.
Because many organizations make use of this bill of lading on a daily basis, they make a bill of lading template to make things easier for them. To make a bill of lading template, one must make sure that the important entities are mentioned which are related to the product and the consignment. They are the name of the product, the quantity, the destination, who is to receive it and who is sending it. Mentioning these in clear is crucial.
BILL OF LADING TEMPLATE
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