Tuesday, January 12, 2010

Banking Fundamentals- Bill Of Lading

Bill Of Lading

What is a Bill of Lading

A Bill of lading is a contract made between the shipper of goods and the carier. A bill of lading mentions the vessel on which the goods have been in placed,its intended destination and the terms of transportation.

What are various types of Bill of Lading

There are four types of bill of lading.

An inland bill of lading is a document of contract between a shipper and a transportation company. It lays out the terms for transporting items overland(within the country) to the exporter’s international transportation company.

An ocean bill of lading is a document that provides the terms of contract for the shipment of goods overseas.

A through bill of lading covers the domestic and international transportation of export merchandise. An airway points the terms of flights for transportation both domestically and internationally.

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