Bill of Lading (Meaning & Definition)
A Bill of lading is a legal document used in foreign trade, between the shipper of a particular good and the carrier which provides the details such as the type, quantity and destination of the goods being carried to. It is an acknowledgement that a company has received the goods for transportation. The Bill of Lading serves as a receipt to the goods, until they reach their final destination.
The Bill of Lading must me signed by an authorized representative from the carrier, shipper and receiver.
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