What is bill lading? How does it differ from bill of entry
Answers
Answer:
Bill of lading is the document signed by the shipping company’s representative stating that the goods have been booked for shipment. It contains the terms and conditions on which the goods are to be delivered at the destination port. It is a document of title to the goods and freely endorsable. It contains the following particularsname of the ship, date of shipment, port of loading, destination port, name of the exporter, name of the importer, etc.
On the other hand, Bill of entry because it is a document used by an Importer, which contains details of goods imported. It is used by the customs authority for determining the import duty. It contains details such as name and address of importer and exporter, name of ship, description of goods, quantity and value of goods