The Importance of BILL OF LADING in International Trade- Connecting your world of EXIM

The Bill of Lading is an instrument used in international trade. A transferable document, by its nature, must be a unique document throughout its life cycle. It is a feature known as the ‘guarantee of uniqueness’ or ‘guarantee of singularity’, which is essential to ensure that only the holder of the document can exercise the right to claim the performance of the obligation.

The importance of a bill of lading lies in the fact that it’s a legally binding document that provides the carrier and the shipper with all of the necessary details to accurately process a shipment. This implies that it can be used in litigation if the need should arise and that all parties involved will take great pains to ensure the accuracy of the document.

Essentially, a bill of lading works as undisputed proof of shipment. Furthermore, a bill of lading allows for the segregation of duties that is a vital part of a firm’s internal control structure to prevent theft.

Webinar Highlights :

• Significance of Bill of Lading in global trade
• Elements of the Bill of Lading
• Guarantee of Uniqueness
• Guarantee of Singularity
• Laws and Litigation
• Prevention of Theft