Bill of Lading.

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What is Bill of Lading ? or Bill of Lading Defination.

A bill of lading is a record document of traded goods which have been received on Vessel (ship or board). It is a legal document that create an agreement between a shipper and a carrier (shipping company) for the transportation of goods to the predetermined destination, and Carrier issues this B/L to a shipper.
The bill of lading also use as a receipt of shipment when the goods delivered to the final destination.It indicates the carrier through which goods have been delivered to their final destination, & mention conditions for transporting shipment to its final destination.This bill of lading must be signed by an authorized representative from the carrier (shipping line), shipper (exporter) and receiver (importer or notify party).

Business Terms Used in This Defination.

B/L and BOL terms also use for Bill of lading.
Goods = Here Goods Refer items, material that we want to export. i.e ready-made garments, Towels etc.
Vessel = A cargo ship that carries cargo, goods and materials from one port to another.
Carrier = Here carrier mean transportation company though which goods will be delivered i.e Maersk Line, Msc Line Etc.
Destination = its final destination where exporter want to deliver his goods.