Bill of Lading
A bill of lading (B/L) is a specialized form of receipt used in the shipping industry. As businessdictionary.com puts it, a bill of lading is a
Document issued by a carrier, or its agent, to the shipper as a contract of carriage of goods. It is also a receipt for cargo accepted for transportation, and must be presented for taking delivery at the destination.
Businessdictionary.com goes on to list several key elements of a bill of lading, which include shipper and carrier names, shipping dates, and all manner of details about the cargo being shipped. It is important to note that the term “bill of lading” hinges on the seldom-used word “lading”. As part of a special two-for-one episode of the Daily Biz, businessdictionary.com defines “lading” as
1. Placement of cargo in its transporting vessel.
or
2. Cargo carried in a transportation vessel.
So lading is either a noun (the cargo being carried) or, more commonly, a verb (the act of placing cargo in a vessel for transport). The more you know!
