What Is a Bill of Lading and How It Works in Simple Terms
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A Bill of Lading (B/L) is a crucial document in international trade, serving as a shipment receipt, contract of carriage, and document of title. For exporters, it ensures goods are shipped as agreed and provides proof of shipment for payment claims. For importers, it confirms the dispatch and details of goods, enabling customs clearance and ownership transfer. The B/L safeguards both parties by outlining terms, minimizing disputes, and supporting financial transactions like letters of credit. It
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