Bill of lading

An international shipping document issued by a carrier to a cargo exporter. It serves three purposes: (a) definition of the contract between the parties, including details of the shipowner’s duties and responsibilities for the property (as defined) from the port of shipment to the port of destination; (b) receipt for the goods delivered for shipment; (c) evidence of title, and as such is transferable by endorsement and delivery. A clean bill carries no qualifying endorsement; a ‘dirty bill’ may be endorsed, for example, ‘badly packed’. Copies are kept by the master, the shipper and the consignee.
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A document issued by a carrier that is a receipt for the merchandise or other property to be transported, and that outlines just what the carrier agrees to do and his responsibilities for the property.

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