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Simple English definitions for legal terms
overseas bill of lading
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A quick definition of overseas bill of lading:
An overseas bill of lading is a document that shows that goods have been received by a carrier or shipper's agent for transportation. It is like a receipt and a contract for shipping all in one. It tells us what goods are being shipped, who is shipping them, and where they are going. It is used for shipping goods overseas by water or air. It is important because it helps keep track of goods and makes sure they get to the right place.A more thorough explanation:
An overseas bill of lading is a document that acknowledges the receipt of goods by a carrier or shipper's agent and the contract for the transportation of those goods. It is used for overseas shipment by water or air.
For example, if a company in the United States wants to ship goods to a customer in Europe, they would use an overseas bill of lading to document the shipment and the terms of the transportation contract.
Another example would be if a company in China wants to ship goods to a customer in Australia, they would also use an overseas bill of lading to document the shipment and the terms of the transportation contract.
The examples illustrate how an overseas bill of lading is used to document the shipment of goods for international transportation and to establish the terms of the transportation contract.
overriding royalty | Overseas Private Investment Corporation