bill of lading

Glossary : Customs : BILL OF LADING

A bill of lading is a document issued by a carrier (trucking company) which serves as a receipt for the goods to be delivered to a designated person or to his order. The bill of lading describes the conditions under which the carrier accepts the goods and details that nature and quantity of the goods, identifying marks and numbers, destination, etc. The person sending the goods is the "shipper" or "consignor," the company transporting the goods is the "carrier", and the person for whom the goods are destined is the "consignee". Bills of lading may be negotiable or non-negotiable. If negotiable (i.e., payable to the shipper's order and properly endorsed) title to the goods passes upon delivery of the bill of lading.

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