Wisconsin Indemnity Agreement regarding Lost or Missing Bill of Lading

• Category: Contracts - Bill of Lading
• State: Multi-State
• Control #: US-02564BG
• Format: Word; Rich Text

Description

A bill of lading is a receipt given by a shipper of goods from the carrier, such as a trucking company, railroad, ship or air freighter, for shipment to a particular buyer. It is a contract protecting the shipper by guaranteeing payment and ensures the carrier that the recipient has proof of the right to the goods. The bill of lading is then sent to the buyer by the shipper upon payment for the goods, and constitutes proof that the recipient is entitled to the goods when received. To indemnify means to reimburse another for a loss suffered because of a third party's or one's own act or default. It can also refer to a promise to reimburse another for such a loss or to give another security against such a loss. The Wisconsin Indemnity Agreement regarding Lost or Missing Bill of Lading is a legal document that provides protection and compensation to parties involved in a shipment when the original bill of lading is lost or goes missing during transit. This agreement is particularly important in situations where the bill of lading is essential for establishing ownership and delivering goods to the correct recipient. Wisconsin recognizes different types of Indemnity Agreements depending on the circumstances of the lost or missing bill of lading. These include: 1. General Indemnity Agreement: This is the most common type of indemnity agreement. It offers a comprehensive coverage to all parties involved, including the shipper, carrier, and consignee. It protects each party against any financial loss or liability resulting from the absence of the bill of lading. 2. Carrier Indemnity Agreement: This agreement focuses primarily on the carrier's liability. It protects the carrier from any claims or lawsuits arising due to the lack of a bill of lading. The carrier agrees to indemnify the shipper and consignee for any damages or losses incurred as a result. 3. Shipper Indemnity Agreement: As the name suggests, this agreement places the primary responsibility of indemnification on the shipper. The shipper agrees to compensate the carrier and consignee for any losses or expenses resulting from the non-existence of the bill of lading. 4. Consignee Indemnity Agreement: This type of agreement holds the consignee responsible for compensating the shipper and carrier if the bill of lading cannot be located. The consignee assumes the risk of potential loss and agrees to indemnify other parties involved. Keywords: Wisconsin, Indemnity Agreement, Lost, Missing, Bill of Lading, protection, compensation, shipment, ownership, goods, recipient, circumstances, general agreement, carrier agreement, shipper agreement, consignee agreement.

The Wisconsin Indemnity Agreement regarding Lost or Missing Bill of Lading is a legal document that provides protection and compensation to parties involved in a shipment when the original bill of lading is lost or goes missing during transit. This agreement is particularly important in situations where the bill of lading is essential for establishing ownership and delivering goods to the correct recipient. Wisconsin recognizes different types of Indemnity Agreements depending on the circumstances of the lost or missing bill of lading. These include: 1. General Indemnity Agreement: This is the most common type of indemnity agreement. It offers a comprehensive coverage to all parties involved, including the shipper, carrier, and consignee. It protects each party against any financial loss or liability resulting from the absence of the bill of lading. 2. Carrier Indemnity Agreement: This agreement focuses primarily on the carrier's liability. It protects the carrier from any claims or lawsuits arising due to the lack of a bill of lading. The carrier agrees to indemnify the shipper and consignee for any damages or losses incurred as a result. 3. Shipper Indemnity Agreement: As the name suggests, this agreement places the primary responsibility of indemnification on the shipper. The shipper agrees to compensate the carrier and consignee for any losses or expenses resulting from the non-existence of the bill of lading. 4. Consignee Indemnity Agreement: This type of agreement holds the consignee responsible for compensating the shipper and carrier if the bill of lading cannot be located. The consignee assumes the risk of potential loss and agrees to indemnify other parties involved. Keywords: Wisconsin, Indemnity Agreement, Lost, Missing, Bill of Lading, protection, compensation, shipment, ownership, goods, recipient, circumstances, general agreement, carrier agreement, shipper agreement, consignee agreement.