Bill Of Lading Remove Value Choice For Free

The bill of lading must include the name and address of the shipper, the name and address of the consignee, a description of the goods being shipped, the quantity of the goods, the method of transportation, and the date of shipment.

A bill of lading is a contract issued by a transport company to a shipper that spells out the quantity, type, and destination of the goods being shipped. It serves as a receipt of the shipment and can help prevent the theft of goods being transported.

Typically three bills are issued?one for the shipper, one for the consignee, and one for the banker, broker, or third party. There is no restriction on the number of bills of lading that can be issued, but the number issued must be stated on the bill. Because the bill of lading is a document of title, it is valuable.

Bill of lading FieldsCity/State/ZIPThe city, state, and zip code of the shipper.SID#The shipment ID number applied by the shipper to this shipment.FOBIndicates the FOB freight term used for the shipment.Bill of Lading NumberThe bill of lading number created by the shipper to identify the shipment.2 more rows

Typically, a bill of lading will include the names and addresses of the shipper (consignor) and the receiver (consignee), shipment date, quantity, exact weight, value, and freight classification.

By the provision/option of declaring a value on the bill of lading, the shipper is given an opportunity to request that the carrier be liable for a greater amount, up to the declared value and not for a statutory amount based on the cargo's weight.

Declared Value If the consignor declares a value for the goods on the face of the bill of lading, the amount of any loss or damage, for which the carrier is liable, shall be at, or will not exceed the declared value, or actual loss of the part of the shipment that is lost or damaged.

Typically three bills are issuedone for the shipper, one for the consignee, and one for the banker, broker, or third party.Because the bill of lading is a document of title, it is valuable.

A bill of lading must be transferable, and serves three main functions: it is a conclusive receipt, i.e. an acknowledgement that the goods have been loaded; and. it contains or evidences the terms of the contract of carriage; and. it serves as a document of title to the goods, subject to the nemo dat rule.

A bill of lading, therefore, is a very important issue when making shipments to move the cargo or freight from one point to the other. On one hand, it is a contract between a carrier and shipper for the transportation of goods and on the other hand, it serves as a receipt issued by a carrier to the shipper.