A receipt for the goods shipped with other cargo as one consignment , typically a full container. Consolidation is done to take advantage of better freight rates. Freight forwarder or consolidator issues it to the shipper. The forwarder is the consignor, forwarder’s agent at the destination is the consignee. This receipt can be used or negotiated for acceptance by the importer’s bank to stand as the basis of payment under a letter of credit , If not specifically prohibited. A forwarder’s receipt has legal standing like that of a normal (carrier’s) B/L, even though it is not a complete title document . Known also as house bill of lading .
Black’s Law Online Dictionary
