Sign Kentucky Banking Bill Of Lading Simple

The front and back of a bill of lading form

good morning everybody this is Scott woods I'm coming to you live from my bat cave somewhere in a secure location in the Midwest look what you see in front of you here is an example Bol or Bill of Lading that's what we use the transportation industry you know as a freight broker or a trucking company you guys that are driving trucks out there you see these things every day freight brokers do not necessarily see them a lot unless they're using them for billing we're going to discuss a few things about it to kind of educate some of you people that are unaware of exactly what this is first of all the Bill of Lading is the legal title to the goods that are being transported all right this is the number one piece of evidence that is going to be used if there's ever a claim if there's ever you know because of a wreck or something like that this is also going to be required if you the freight broker are billing out your shipper you're going to have to send him an original copy in most cases of the bill of lading sometimes they will accept a fax copy that's going to show that the product has been delivered to the consigning the receiver and it was accepted in good order so he's going to require that because what happens is when the truck shows up to the location to pick up whatever you're transporting the consigner and he doesn't necessarily have to be the shipper he's the consignor it's just a pickup location is going to provide him with a bill of lading with everything he's about to transport it's going to basically have where it's picking up you'll see in these circles that I've put on there for you where the pickup of origin was where the destination is what he is shipping and the piece count if he's shipping um an open-top rate he's going to have the dimensions on there and the weights it's going to have who's paying the freight is is going to be prepaid by the shipper collect with a receiver or third-party billing and you'll see right here that it's also going to see as I highlight it real quick you're going to see those three circles at the bottom one is when he picks it up the shipper is going to sign that it is in good order then the carrier will sign in receipt of that that he is received it in good order and everything is correct whether it be dimensions weights piece count etc and then finally when it's delivered the receiver signs now if anything is wrong with that Freight the receiver will write on this bill of lading he might put missing five pieces of Freight missing you know this specific amount of freight Freight damaged six boxes he'll write something like that on there that it was not received in good order alright when it is not received in good order what's going to happen is the load is either going to be partially or completely rejected and that's when that receiver is going to get on the phone with a shipper whoever he purchased the item from and say look here's what's going on now they can completely reject the load and refuse to unload it from the truck and that creates a big mess because then the shipper is either going to try to find somebody else to sell it to in the area especially with produce and things like that or he's going to you know get with get with the driver or the trucking company and you the broker and figure out what they're going to do with that Freight because that trucks not going to want it on there you want to get it off as quickly as possible you know and it might end up being an insurance claim situation and at that point in time it's on the trucking company's insurance company on what they want to do you know and you just got to all work together with it now if anything really goes awry with this and let's say there's a major claim and I've had $100,000 claims before guys you know acts a little bit more than that on some of my heavy haul stuff but this bill of lading is going to be what is you used in a court of law they're going to go by they're gonna look at what was being transported how it was to be transported who the receiver was where you know all the general information because this is the title to the goods as I said what's the once the driver gets there with this they're going to transfer the title to the receiver and it's a good good order and a good deal but guys also on a bill of lading you can have what is called a blind bill of lading and that is where either the shipper or the receiver or both do not want to know you know that's where you're you're hiding information from them so even though you might have let's say your customer is a a John's a hotrod shop all right and he is shipping it from a place somewhere in San Francisco going to somewhere in Texas well John might have the name of a hotrod shop but he's not actually making the hot rods he might be buying them from you know whoever distribution and then shipping them to his customers well he doesn't want his customer to find out his contact and where he's actually buying them from so he will leave the port of origin and who it's from off there he'll leave all the consigning information you know I'm sorry the consignor information off there that way the consign II cannot figure out his source all right and maybe it'll be flip-flopped maybe that uh they don't want to let the shipper wherever he's buying it from know who the consign he is all they're going to have is an address of where it's going they won't have the name of the party they won't have any contact information etc now with a bill of lading even though you as a freight broker do not handle these all the time it's always good to have one or two of these or a master copy laying around because occasionally you will deal with customers that do not have Bo ELLs and you'll have to get one to the driver and he'll have to fill it out and complete it guys that's your basic understanding of a bill of lading the most important document in the freight please visit our website at www.att.com/biz premier freight broker training program look we will show you how to succeed faster than anyone to make money and profit in this industry whether your driver whether your trucking company wants to start a brokerage up or whether you're someone just wants your own business you know we've been doing this longer than anybody we've been recognized more than any other agency for doing so all right we broke rephrase ourselves we want to help you out and show you the way guys thanks for viewing this video here today on YouTube and have a great day