Latest Shipment Date
Last day on which goods may be shipped, as evidenced by on-board date on bill of lading or flight date on air waybill.
Letter of Credit
Document, issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt by the bank of certain documents within a given time.
(See Import Letter of Credit, Export Letter of Credit)
Marine Bill of Lading
Bill of lading for shipment by sea.
Multi-Modal Bill of Lading
A bill of lading used when more than one mode of transport is involved in a shipment, for example when a consignment travels by rail and by sea. Also called a combined transport or intermodal bill of lading.
Negotiable Bill of Lading
A title document to the goods, issued "to the order of" a party, usually the shipper, whose endorsement is required to effect its negotiation. Thus, a shipper's order (negotiable) bill of lading can be bought, sold or traded while goods are in transit and is commonly used for letter-of-credit transactions. The buyer must submit the original bill of lading to the carrier in order to take possession of the goods.