Bill of lading
A bill of lading is commonly a carrier’s receipt for goods and evidence of the contract of carriage. An appropriately transferable bill can also operate as a document of title, allowing rights to the goods to be transferred by transferring the document under the applicable rules. Its effect depends on the form of document, governing law and terms; it should not be confused with the sale contract itself.
Worked example
A seller ships goods and provides a bill of lading to the buyer through the agreed payment process. The buyer checks that the document and applicable terms support delivery of the goods.
Common mistake
Assuming every transport document is transferable or that the bill itself is the sale contract.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | LW (GLO) | Direct | September 2026–June 2027 |