FORWARDER'S BILL OF LADING (B/L)
\fˈɔːwədəz bˈɪl ɒv lˈe͡ɪdɪŋ bˈiː slˈaʃ ˈɛl], \fˈɔːwədəz bˈɪl ɒv lˈeɪdɪŋ bˈiː slˈaʃ ˈɛl], \f_ˈɔː_w_ə_d_ə_z b_ˈɪ_l ɒ_v l_ˈeɪ_d_ɪ_ŋ__ b_ˈiː s_l_ˈa_ʃ ˈɛ_l]\
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A receipt for the goods shipped with other cargo as one consignment, typically a full container. Consolidation is done to take advantage of better freight rates. Freight forwarder or consolidator issues it to the shipper. The forwarder is the consignor, forwarder’s agent at the destination is the consignee. This receipt can be used or negotiated for acceptance by the importer’s bank to stand as the basis of payment under a letter of credit, If not specifically prohibited. A forwarder’s receipt has legal standing like that of a normal (carrier’s) B/L, even though it is not a complete title document. Known also as house bill of lading.
By Henry Campbell Black
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Nearby Words
- forward-looking study
- forward-moving
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- FORWARDER'S BILL OF LADING (B/L)
- forwarder's documents
- forwarding
- forwarding fee
- forwarding merchant
- forwarding note