A bill of lading is a document issued by the common carrier specifying that it has received the goods for shipment. It serves as a receipt for the goods, evidence of the contract of carriage, and a document of title to the goods. Options A, B, and D refer to different financial instruments and are not related to a bill of lading.

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A Bill of Lading Is

Question 6

Multiple Choice

A bill of lading is

A) A guarantee from the importer's bank that is will act on behalf of the importer and pay the exporter for the merchandise if all relevant documents are presented
B) Is a written order instructing the importer or his agent to pay the amount specified on its face on a certain date
C) Is a document issued by the common carrier specifying that it has received the goods for shipment
D) Is a negotiable money market instrument for which a secondary market exists

Correct Answer: