Knowing what a Bill Of Lading Includes and the importance can help you. There are many companies that want you to believe the bills they send out are the bill of lading. This is not true.
A bill of lading is a document that is sent by a person or company to a recipient and includes all of the details of the transaction.
- Name and complete address of shippers and receivers
- Special account numbers or PO used between business for order tracking
- Instruction for the carrier for secure delivery
- Date of the shipment
- Number of shipping units
- Types of packaging that includes cartons, pallets, skids and drums
- Description about the shipped items (common name & material of manufacture)
- Declared value of the goods being shipped
- Note included if there is any hazardous substance in it
- Exact weight of the shipments – for multiple commodities, weight for each commodity is mentioned separately
- Freight classification of the items shipped, according to NMFC (National Motor freight classification)
A bill of lading is sent to customers for several reasons. It could be that a shipment cannot be delivered because the payment has not been received. It could be that the customer has changed their mind and wants to have the item returned and may require a second shipment. In some cases the customer may cancel the order for a different item and this is reflected in the bill of lading.
A bill of lading is just another name for an invoice. The invoice is a written document that describes a customer’s purchase and/or a receipt for a payment. The invoice is usually accompanied by a statement from the customer, which is basically a receipt for payment.
Bill of lading is usually sent to a business, but it can also be sent to customers, to certify the details of a purchase. The bill of lading is important because it provides accurate details of the transaction. Without a bill of lading, there may be discrepancies between the details provided by the customer and the information on the bill of lading.
As stated above, a bill of lading is sometimes referred to as an invoice, and in other cases it is called a receipt. Receipts are used in many industries, but many businesses use a bill of lading because of its accuracy. The terms are not always used interchangeably though.
The Federal Trade Commission or FTC has put together a website that explains the difference between a bill of lading and an invoice. They recommend that businesses type the terms into a search engine, but that the terms should be clearly defined for clarity. It is also possible to get these terms from the Better Business Bureau.
Sometimes, especially when a company or individual is trying to sell a product or service, there will be a lot of things to keep track of, and a bill of lading is a great way to keep track of all of the pertinent details. It is also a way to make sure that the transaction was correct and complete. By being aware of the terms used and how they relate to each other, the business owner will have a better understanding of the bills and the transactions that occur within the business.
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