Hi, I'm Mike Hobby, the communications manager for Cover Freight Lines. Today, I want to offer you some basic information about bills of lading. We're going to cover the top five items on the bill of lading that seem to be misunderstood the most. We're going to look at them from the standpoint of our bill of lading, but most of the things we're going to talk about are uniform across most LTL (Less Than Truckload) carriers. The first section we're going to look at is the parties. There are three parties listed on the bill of lading: the shipper, the consignee, and the third-party billing. The shipper is the originator of the freight and it is always the location where the freight is picked up. On some bills of lading, it's called a consignor. The consignee is the party that's receiving the freight. Like the shipper location, the consignee is always a physical location. The shipper and consignee locations are used to route the shipment and are one of the primary factors in the rate you pay for the service. The shipper or the consignee may have an alternate address for mailing invoices or even a separate designee for freight bill pay and audit. This information goes in the third-party billing location. The third-party billing address only applies to the party responsible for paying the freight charges, as indicated in the terms section of the bill of lading. The next thing we want to look at is the terms. Terms indicate who is responsible for paying the freight charges. There are two types of terms: prepaid and collect. Prepaid means the shipper or the shipper's designee is paying the freight charges. Collect means the consignee or the consignee's designee is responsible for the freight charges. Every bill of lading has a...
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Straight Bill Of Lading Form: What You Should Know
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