Bill of Lading and Evaluation Law Research Paper Essay (Research Paper Sample)

The Bill Of Lading and Valuation
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The Bill of Lading (BOL) is a document required when transporting a freight shipment. It works as a receipt of freight services, whereby it represents a contract between the freight carrier who can be the shipper and a document of title. The BOL, therefore, is a legally binding document that provides the carrier and the driver the details that are required to process the shipment and invoice it in the right way before its shipment. It consists of the names and addresses of both the shipper and the receiver which should be legible to allow easy access of the delivery; the purchase orders and reference numbers of the point of pick-up; special instructions where instructions for the carrier are noted such as whether the good is fragile or perishable; the pick-up date; the description of items including their dimensions and weight; the packaging type, whether they are cartons or crates and the freight class based on the dimensions, weight, storage capability, ease of landing, value and liability. These factors primarily influence the cost of the shipment, and based on the valuation is done to evaluate the cost of shipment as different goods face a different transport cost. The BOL also puts the carrier in a position to be responsible for the good thus, they are liable to any loss, damage, delay, and transportation of the goods until when delivery is complete.[Zhao L, 'The Straight Bill Of Landing: Development Of Presentation Rule In Mainland China And Hong Kong' [2010] SSRN Electronic Journal] [Ibid]