Bill Of Lading
A legal document between the shipper of a particular good and the carrier detailing the type, quantity and destination of the good 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.
Investopedia Says:
For example, suppose that a logistics company must transport gasoline from a plant in Texas to a gas station in Arizona via heavy truck. A plant representative and the driver would sign the bill of lading after the gas is loaded onto the truck. Once the gasoline is delivered to the gas station in Arizona, the truck driver must have the clerk at the station sign the document as well. Related Terms:
Cash On Delivery - COD
Claused Bill Of Lading
Clean Bill Of Lading
Inland Bill Of Lading
Just In Time - JIT
Logistics
Mothballing
Ocean Bill Of Lading
Supply Chain
Supply Chain Management - SCM |