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Bill of lading is perhaps the most important document related to the shipping industry as someone can lose money if attention is not given while handling these bills of lading.
To define “bill of lading”
“It is a document issued to the shipper by the Master of the vessel on behalf of the carrier for the goods shipped on board that vessel”
A Bill of lading serves mainly three functions
- It acts as the receipt of goods
- It is document of title
- It is an evidence of contract of agreement or contract of carriage
To proceed further it is expected that one is well versed with the terms like Shipper, consignee, Receiver, carrier.
Very brief introduction about these three functions
1) It acts as the receipt of goods
Receipt of goods is the straightforward thing.
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About Capt Rajeev Jassal
Capt. Rajeev Jassal has sailed for over 24 years mainly on crude oil, product and chemical tankers. He holds MBA in shipping & Logistics degree from London. He has done extensive research on quantitatively measuring Safety culture onboard and safety climate ashore which he believes is the most important element for safer shipping.
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