Q.1 Write a short note on Bill of Lading. (10 Marks)
Answer : A Bill of Lading or BOL or B/L is a legal document used by the shipper of a particular good and a carrier (i.e. the transport provider). This document is issued by the carrier and completed by the shipper. It details the type, quantity and destination of the goods being carried. The bill of lading also serves as a receipt of shipment when the good is delivered to the predetermined destination. This document must accompany the shipped goods, no matter the form of transportation, and must be signed by an authorized representative from the carrier, shipper and receiver.
For example, ABC Inc. must transport notepads from its plant in New York to a retailer in Chicago via heavy truck. A plant representative and the driver would sign the Bill of Lading after the notebooks are loaded onto the truck. Once the notebooks are delivered to the retailer, the truck driver must have the retailer’s representative sign the document as well.
The bill of lading is one of the most important documents in the transportation business, and it is enforceable in a court of law. When shipping, it is in everyone’s best interest to have a bill of lading, to read it carefully, and keep it in a safe place. The bill of lading will also be the reference in the event of loss, damage or overcharge claims.
A bill of lading will contain the following information as a minimum requirement (see the Business-in-a-Box sample on the left to see the real template):
– Shipper’s name and address
– Receiver’s name and address
– Carrier Name
– Description of the items that are being transported
– Gross weight and dimensions of the shipment
– Classification of the commodity being shipped
– Nomination and identification of the party who is paying for the transportation.
This document is also often used for the carrier to accurately bill the shipment; therefore it is quite important that the freight is well described in order to prevent undercharging or overcharging.
There are two basic types of bills of lading.
A straight bill of lading is one in which the goods are consigned to a designated party.
An order bill is one in which the goods are consigned to the order of a named party.
This distinction is important in determining whether a bill of lading is negotiable (capable of transferring title to the goods covered under it by its delivery or endorsement). If its terms provide that the freight is to be delivered to the bearer (or possessor) of the bill, to the order of a named party, or, as recognized in overseas trade, to a named person or assigns, a bill, as a document of title, is negotiable. In contrast, a straight bill is not negotiable.
State laws, which often include provisions from the Uniform Commercial Code, regulate the duties and liabilities imposed by bills of lading covering goods shipped within state boundaries. Federal law, embodied in the Interstate Commerce Act (49 U.S.C. [1976 Ed.] § 1 et seq.) apply to bills of lading covering goods travelling in interstate commerce.
BILL OF LADING, contracts and commercial law. A memorandum or acknowledgment in writing, signed by the captain or master of a ship or other vessel, that he has received in good order, on board of his ship or vessel, therein named, at the place therein mentioned, certain goods therein specified, which he promises to deliver in like good order, (the dangers of the seas excepted,) at the place therein appointed for the delivery of the same, to the consignee therein named or to his assigns, he or they paying freight for the same. 1 T. R. 745; Back. Abr. Merchant L Com. Dig. Merchant E 8. b; Abbott on Ship. 216 1 Marsh. on Ins. 407; Code de Com. art. 281. Or it is the written evidence of a contract for the carriage and delivery of goods sent by sea for a certain freight. Per Lord Loughborough, 1 H. Bl. 359.
2. A bill of lading ought to contain the name of the consignor; the name of the consignee the name of the master of the vessel; the name of the vessel; the place of departure and destination; the price of the freight; and in the margin, the marks and numbers of the things shipped. Code de Com. art. 281; Jacobsen’s Sea Laws.
3. It is usually made in three original’s, or parts. One of them is commonly sent to the consignee on board with the goods; another is sent to him by mail or some other conveyance; and the third is retained by the merchant or shipper. The master should also take care to have another part for his own use. Abbott on Ship. 217.
4. The bill of lading is assignable, and the assignee is entitled to the goods, subject, however, to the shipper’s right, in some cases, of stoppage in transit. See In transit; Stoppage in transit. Abbott on Shipping. 331; Back. Ab. Merchant, L; 1 Bell’s Com. 542, 5th end
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