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An electronic bill of lading (or eB/L) is the legal and functional equivalent of a paper bill of lading. [28] An electronic bill of lading must replicate the core functions of a paper bill of lading, [29] namely its functions as a receipt, as evidence of or containing the contract of carriage and as a document of title. [citation needed]
Image 3: The seller provides the bill of lading to the bank in exchange for payment. The seller's bank then provides the bill to buyer's bank, who provides the bill to buyer for presentation. Image 4: The buyer provides the bill of lading to the carrier and takes delivery of the goods.
Universal Business Language (UBL), ISO/IEC 19845, is an open library of standard electronic business documents and information models for supply chain, procurement, and transportation such as purchase orders, invoices, transport logistics and waybills.
The Uniform Bills of Lading Act was adopted in 1909 and passed by the U.S. Uniform Law Commission.The act addressed the judicial and legislative treatment of issues such as the extent of the carrier's liability to the consignee of the goods or to the buyer of the bill of lading based upon the carrier's issuance of the bill. [1]
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers (party that transports goods).
The standard form of contract is a bill of lading which, in international shipping law, is simply a contract for the carriage of goods entered into between the shipper and the carrier that is not a charter party. [4] It is always a term of that contract that the carrier must deliver the goods to a specific receiver.
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