Bill Of Lading Add Value Choice For Free

The bill of lading must contain the terms and conditions of the contract.(1) Your name and address, or the name and address of the motor carrier issuing the bill of lading. (2) The names and addresses of any other motor carriers, when known, who will participate in transportation of the shipment.

A bill of lading is only a transport document and not a contract of carriage. Picture this scenario: Bank: Sorry, we cannot accept this bill of lading as it doesn't show the value of the goods and piece price as required by the Letter of Credit!

The bill of lading (BOL) works as a receipt of freight services, a contract between a freight carrier and shipper and a document of title. The bill of lading is a legally binding document providing the driver and the carrier all the details needed to process the freight shipment and invoice it correctly.

In summary, a bill of lading is a legal document that serves three vital purposes in the shipping process: as a receipt for shipping, as a title of goods, and as a contract of carriage. The carrier serves the bill of lading when they take control of the goods.

A Bill of Lading has 3 basic functions or roles as below (in no particular order).. Evidence of Contract of Carriage. Receipt of Goods. Document of Title to the goods.Jul 27, 2021

A Negotiable Bill of Lading is used when the consignee or the buyer signs and endorses the documents, delivering them to the new consignee or the third party.Then, a new Negotiable Bill of Lading must be written and directed to the order of the consignee.

Rule 3 of the Rules Relating to the Bill of Lading (BL) set out in the Schedule to the Carriage of Goods by Sea Act, 1925, does not mandate that the value of the goods should be mentioned in the bill of lading.