The document under which cargo is carried on board vessels is a Bill of Lading (B/L) and may be defined as a receipt for goods signed by the Master or other duly authorised person on behalf of the ship-owner and constitutes a document to the title of the goods specified therein.
Roles and Functions of Bill of Lading
1.Document of Title
2. Receipt of Goods
3. Evidence of contract of carriage
The principle purpose of the bill of lading today is to enable the owners of the goods to which it relates to dispose of them readily although the goods are no longer in his hands but already in the custody of carrier .
There are three types of Bill of Lading –
1.Negotiable & Non-negotiable Bill of Lading
2.Clean & Dirty Bill of Lading
Here is a sample Bill of Lading published for study purpose –