Accomplished Bill of Lading (B/L)
This is signed paperwork issued by a cargo shipper to the carrier to signify the cargo's true rights and ownership.
How Accomplished Bill of Lading Works
In an accomplished bill of lading, the bill primarily serves as a form of receipt evidence. It is a form of receipt issued to cargo owners to serve as a reference for cargo ownership and rights. A bill of lading is said to have been accomplished if it is legally binding to fulfill all shipment purposes. It serves as a receipt reference between the shipper, the carrier, and, of course, the receiver.
It works as a legally binding document that serves as a receipt for the receiver, which accepts the goods at their final destination, or for record purposes. It is also known as a waybill; it works as a type of paperwork agreement between the merchandise owner and the carrier. It states the kind of goods shipped and the confirmation that the items are in good condition from where they're coming and finally to their ultimate destination.
Example of an Accomplished Bill of Lading
For instance, when goods move, an accomplished bill of lading documents the shipper issues to the carrier. It serves as proof that the goods were indeed picked up and delivered to a destination. You will see necessary information and background data such as:
- The name of the item
- Type of item
- The item quantity
- The eventual destination for processing the cargo shipment
Types of Accomplished Bill of Lading
- Bearer bill of landing: It is a type of waybill where the person holding the bill receives the goods delivery. Here, the holder of the bill of lading is the owner of the consignment. The waybill doesn't include the person's name to get the delivery; the goods simply get delivered to the bearer of the bill.
- Straight bill of lading: Another type of bill in which the person who receives a product during delivery is the only person that is legally binding to sign and accept a shipment.
- Seaway bill of lading: Unlike other types of the waybill, the seaway bill, otherwise known as the express release, can be used by the shipper to get payment for services without necessarily submitting an original waybill copy.
- Order bill of lading: This is the most common type of bill used worldwide. The delivery agent transports to the bill holder, and the agent scrutinizes the packages before he leaves.
- Negotiable bill of landing: Like a bank check, the cargo carrier uses this type of bill to get paid. Stated on the first page of the bill are the terms and conditions of the carrier.
Significance of Bill of Lading
- Proof of evidence: A waybill usually serves as evidence of receipt for goods and ascertains that the carrier transferred the merchandise to the receiver in a good state.
- Form of contract: One of the most significant functions of an accomplished bill of lading is to serve as a form of the contractual agreement between the cargo shipper and the carrier. Essentially, it states the contact of carriage.
- Description of goods: Again, the waybill contains the necessary detailed information about the shipped goods. Essentially, it states the name of goods, type, quantity, and the eventual destination of delivery, thereby preventing cases of wrong delivery or missing goods.
- Acknowledgment: Every accomplished bill of lading performs the function of acknowledging the receipt of cargo for shipment.
- Form of protection: Again, the bill of lading performs the function of protecting the shipper from theft and fraud.
- It ensures the safe and secure delivery of merchandise.