What is the receipt and contract between consignor and carrier called?

The correct answer, a bill of lading, is a critical document in the shipping and transportation industries. It serves as a legal receipt issued by a carrier once the goods have been loaded onto a transport vessel. This document outlines the specific terms of the agreement between the consignor (the party sending the goods) and the carrier (the entity responsible for the transportation).

The bill of lading details essential information such as descriptions of the goods, the destination, and the conditions of transport, thereby acting as both a receipt and a contract of carriage. It plays a vital role in ensuring that both parties uphold their responsibilities and safeguards the rights of the consignor by providing proof of shipment.

Other options refer to different types of documents or agreements. A letter of credit is a financial document issued by a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. A contract of carriage is generally a broader term that may encompass several agreements related to the transport of goods but is not the specific document that serves as a receipt. A shipping receipt is more informal and does not typically carry the same legal weight as a bill of lading. Thus, the bill of lading is the most accurate choice for the receipt and