Bill of Lading Terms

What is a Bill of Lading?

• A verbal contract between the shipper and the carrier for the transport of freight.

• A legal written contract between the shipper and the carrier for the transport of freight.

• A bill you pay Mrs. Martin

The definition of consign is:

• To have two signatures on a document

• To deliver something to a person or company's custody, typically to be sold

• To give a person or company product for free

What is the Consignee?

• The individual who is financially responsible for the receipt of the freight and is usually the party to receive the shipment.

• An individual (usually the seller) and is the sender of the freight.

• The company transporting the product for a fee.

What is the Consignor?

• The company transporting the product for a fee.

• The individual who is financially responsible for the freight and usually the person or company to receive the shipment.

• An individual (usually the seller/shipper) and is the sender of the freight.

The ________________ is the company who is sending the product.

• Consignee or receiver

• Consignor or shipper

• Carrier

True or False: The carrier is the company transporting the product for a fee.

• True

• False

True or False: The consignor is the legal owner of the goods until the consignee pays for them in full.

• True

• False

If the consignor or sender pays the carrier fees before transporting the goods it is considered _____________.

• COD or collect on delivery

• Prepaid

• Credit card

If the consignee or receiver is responsible for paying the carrier fees when they receive the goods it is considered _________________

• COD or collect on delivery

• Credit card charge

• Prepaid