What is the receipt given by a ship owner for the goods shipped on board their vessel called?

What is the receipt given by a ship owner for the goods shipped on board their vessel called?

• A. Bill of lading
• B. Marine manifest
• C. Cargo receipt
• D. Freight invoice

Answer: (A)

The receipt given by a ship owner for the goods shipped on board their vessel is called a bill of lading. This document is essential in the shipping and logistics industry as it serves multiple purposes. Firstly, it serves as a contract between the ship owner and the sender of the goods, detailing the terms of the transport. Secondly, it acts as a receipt, confirming that the ship owner has received the goods in the specified condition for shipment. Lastly, it is also a document of title, meaning it can be transferred to others, thus allowing the holder to claim the goods upon arrival at the destination. The bill of lading is crucial in international trade, as it provides legal proof of the existence and conditions of the shipment. Its role encompasses not only acknowledgment of receipt but also serves as a key document in the overall logistics and transport process, ensuring security and accountability in the shipping of goods. Other documents, while important, do not embody all these functions or legal implications in the same comprehensive manner as the bill of lading does.

The receipt given by a ship owner for the goods shipped on board their vessel is called a bill of lading. This document is essential in the shipping and logistics industry as it serves multiple purposes. Firstly, it serves as a contract between the ship owner and the sender of the goods, detailing the terms of the transport. Secondly, it acts as a receipt, confirming that the ship owner has received the goods in the specified condition for shipment. Lastly, it is also a document of title, meaning it can be transferred to others, thus allowing the holder to claim the goods upon arrival at the destination.

The bill of lading is crucial in international trade, as it provides legal proof of the existence and conditions of the shipment. Its role encompasses not only acknowledgment of receipt but also serves as a key document in the overall logistics and transport process, ensuring security and accountability in the shipping of goods. Other documents, while important, do not embody all these functions or legal implications in the same comprehensive manner as the bill of lading does.