A bill of lading is also a receipt from a
shipping company for goods shipped for transport
from one destination to another.
A bill of lading is negotiable to the extent that
merchandise is transferred by delivery of the bills
of lading. It is issued in three or more sets, and
release of the goods at destination is usually
subject to the original, duly endorsed.
It must stipulate that the goods have been
shipped on board of named vessel.
The port of loading and port of discharge.
The shipping marks and numbers must agree with
the marks and numbers on the other documents.
The description and quantity of goods must be
consistent with that on the other documents.
It must indicate all reference and license
numbers as called for.
The bill of lading must indicate that the goods
have been loaded on board.
The date of the bill of lading must be within
the specified "latest shipment date" if payment
is via documentary credit.
The
bill of lading must be issued by a specifically
named carrier, signed or authenticated by the
carrier, the master or named agent for and on
behalf of the carrier or the master.
