Logistics Terminology
Select a letter from the alphabet below to view a breakdown of the logistics terminology you may encounter when dealing with Woodland.
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B -
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M -
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W -
Z
Beneficiary
- Entity to whom money is payable.
- The entity for whom a letter of credit is issued.
- The seller and the drawer of a draft.
BIFA
British International Freight Association
Bilateral
A contract term meaning both parties agree to provide something for the other.
Bill of Exchange
In the United States, commonly known as a "Draft." However, bill of exchange is the correct term.
Bill of Lading (B/L)
A document that establishes the terms of a contract between a shipper and a transportation company. It serves as a document of title, a contract of carriage and a receipt for goods.
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