Bill of Lading (B/L)

Bill of Lading is an official receipt given by the ship owner or their agents evidencing the receipt of the goods mentioned in the Bill of lading. It is also an evidence of the right of the consignee or any lawful holder of the Bill of Lading to take delivery of the goods against surrender of the Bill of Lading. The Bill of Lading can be transferred before arrival of the relative cargo and can be used as a security against loans from a bank.

On the face of the Bill of Lading the following particulars are to be noted:

a.           The name of the steamer carrying the goods;

b.          The port of loading and the port of discharge;

c.           The name of the shipper or consignor;

d.          The name of the consignee or his order;

e.           The party to be noted;

f.   Freight and charges, prepaid or not;

g.          The main particulars regarding the goods loaded on the steamer.