A legal document between the shipper of a particular good and the carrier detailing the type, quantity and destination of the good being transported. Acting as a contract of carriage of goods and receipt of shipment for cargo accepted for transportation, it must be presented for taking delivery at the predetermined destination. It serves as a proof of ownership (title) of the cargo, and may be issued either in negotiable or non-negotiable form. In negotiable form, it is commonly used in letter of credit transactions, and may be bought, sold, or traded which is required in all claims for compensation for any damage, delay, loss and for the resolution of disputes regarding ownership of the cargo.
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