What type of document authorizes the shipping company to transport goods to the buyer's destination?

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Prepare for the UCF GEB3375 Exam 3 with engaging flashcards and best strategies. Practice multiple-choice questions with explanatory notes to master international business concepts. Ace your exam and advance your career!

The bill of lading is a crucial document in the shipping and logistics industry as it serves multiple essential functions, primarily as a contract between the shipper and the carrier. It authorizes the shipping company to transport goods to a specified destination and acts as a receipt for the goods acknowledged by the carrier. When the shipping company receives the goods from the seller, they issue the bill of lading, which outlines details such as the type, quantity, and destination of the shipment.

This document is pivotal because it not only confirms that the shipping company is authorized to move the goods, but it also provides proof of ownership and can be used to transfer rights to the goods while in transit. In many cases, the bill of lading can serve as a negotiable instrument, allowing the transfer of ownership under specific terms.

The other options listed have their own specific purposes within international trade, but they do not serve the same comprehensive role in authorizing transportation. A commercial invoice is primarily a document of sale that details the transaction between the buyer and the seller. An airway bill, while also a transport document specifically for air cargo, does not provide the same legal rights or status as the bill of lading in maritime or overland shipping. The shipper's export