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Bill of Lading
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A bill of lading is a legal document or contract, given by a carrier, showing a list of goods delivered to the customer. In addition, a bill of lading is a receipt for the delivery of goods, a contract for their carriage, and a document of title to the business. There are two basic types of bills of lading. A straight bill of lading is one in which the goods are transferred to a designated party. An order bill of lading is one in which the goods are transferred to a named party. This difference is significant in deciding whether a bill of lading is negotiable (capable of transferring title to the goods covered under it by its delivery or endorsement). The terms provide that the freight will be delivered to the owner of the bill or a named party for which this is negotiable. In contrast, a straight bill is not negotiable.



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