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Sep 11, 2023 · A bill of lading is a document that is provided by a common carrier (the person or entity transporting the goods) to the shipper (the seller or origin of the goods). It is legally binding which generally includes details such as: Name of the shipper and consignee. Details of the goods being transported. Specific destination of the goods.
1. Theft of cargo through forged documents: In this instance, the fraudster fabricates a bill of lading in an attempt to impersonate the consignee, and so receives the cargo from the carrier. When the bill is issued in favour of the bearer (i.e. not to a specific person) the fraudster may try to obtain and fabricate the bill so as to claim the ...
An order bill of lading, in which the goods are consigned "to order" or "to bearer." An order bill of lading is negotiable and entitles its holder to delivery of the goods at the point of discharge. A bill of lading is an essential tool of trade finance. In a documentary credit transaction, such as a commercial letter of credit, the carrier ...
Incorrect and fraudulent bills of lading: A BOL with false information can be used to commit fraud, money laundering and other illegal activity, which is more common with ocean freight. 5. But trucking companies should take heed. When picking up loads, drivers should carefully check the BOL before leaving the pickup site, ensuring the items ...
Oct 14, 2024 · 4 Every bill of lading in the hands of a consignee or endorsee for valuable consideration, representing goods to have been shipped on board a vessel or train, is conclusive evidence of the shipment as against the master or other person signing the bill of lading, notwithstanding that the goods or some part thereof may not have been shipped, unless the holder of the bill of lading has actual ...
Jul 26, 2024 · A bill of lading (BL or BoL) is a legal document that's issued by a transportation company to a shipper. It details the type, quantity, and destination of the goods being carried. A bill of lading ...
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May 2, 2024 · A bill of lading can take several forms, each with specific legal implications that affect the transport of goods and the execution of international trade. Straight and order bills of lading differ substantially in the transfer of ownership rights, while shipped and received for shipment bills of lading reflect different stages in the transportation process, impacting the sequence of liability ...
