Use of bill of lading in logistics
Bill of lading in logistics refers to the mandatory shipping document that acts as an invoice and receipt for further shipping processes, including customs clearance and cargo insurance. Shipping using all modes of transport- trains, trucks, ships, and planes requires a bill of lading. In the case of maritime shipping, an ocean bill of lading is issued. It helps ensure legal trade, taking any financial help such as loans and coming into contracts using foreign trade terms in shipping. Let us learn more about bill of lading in logistics. What is a bill of lading in logistics? A bill of lading (B/L) is a legal document issued by a carrier or shipping line to the shipper (sender) of goods, acknowledging receipt of the cargo for shipment. It serves as a contract of carriage, a receipt for the goods, and a document of title, representing ownership of the cargo. As proof of delivery, the bill of lading confirms that the goods have been tendered to the consignee in the specified condition