BILL OF LADING

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BILL OF LADING:-
 A bill of lading ---
1) is a receipt of goods either received(before shipment) or shipped on board.
2) is a good evidence of the existence and terms of a contract between the shipper and the carrier. However, bill of lading is not a true contract, since it is usually signed by only one of the parties.
3) is a document of title, signifying that the holder has the legal right to possession of the goods it describes.

           It can be said that the bill of lading is a document issued by a carrier, acknowledging that specified goods have been received on board as cargo for conveyance to a named place for delivery to the consignee, who is usually identified. The term is derived from the noun "Bill", a schedule of cost for services supplied or to be supplied and from the verb "to lade" which means to load a cargo onto a ship or other form of transport.
A typical bill of lading may contain the following:-
1) reference number
2) name and address of shipper and consignee
3) ports of loading and discharging
4) name of carrying vessel
5) number and kind of packages
6) gross weight
7) description of goods
8) place where freight is payable
9) numbers of original bill of lading
10) place and date of issue
11) signature of carrier/master
12) carrier's standard terms and conditions

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