In foreign trade, document of title is known as

In foreign trade, a document of title is known as a bill of lading. A bill of lading is a legal document issued by a carrier (such as a shipping company or trucking company) that acknowledges receipt of goods and specifies the terms of their transport. The bill of lading serves as a receipt for the goods, a contract of carriage between the carrier and the shipper, and a document of title to the goods. The document of title aspect of the bill of lading is particularly important in international trade. The bill of lading is a negotiable document, which means that ownership of the goods can be transferred by endorsement and delivery of the bill of lading. The holder of the bill of lading has the right to take possession of the goods at their destination and can use the bill of lading to claim ownership of the goods in disputes or legal proceedings. In summary, a bill of lading is a document of title that serves as a receipt for goods, a contract of carriage, and a transferable ownership document in international trade.