What is the primary function of a Bill of Lading?

The primary function of a Bill of Lading is to acknowledge that goods have been shipped. This document serves as a legal contract between the shipper and the carrier, detailing the types of goods being transported, their quantities, and the destination. It provides proof that the carrier has received the cargo as described and is responsible for delivering it to the specified destination.

In addition to acting as a receipt for the goods shipped, the Bill of Lading also plays a critical role in international trade and commerce. It can be transferred to third parties, making it a negotiable instrument, which can facilitate transactions. This aspect is particularly important in cases where the ownership of the cargo is transferred before it reaches its destination.

The other options relate to different aspects of maritime operations but do not capture the essence of what a Bill of Lading specifically accomplishes. For instance, registering ship ownership is done through maritime registries, documenting crew members involves crew agreements and labor regulations, and determining shipping rates pertains to pricing agreements and market factors. None of these functions align with the core purpose of a Bill of Lading as a document evidencing the shipment of goods.