Which term refers to the party that ships goods?

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Study for the Chartered Property Casualty Underwriter 530 Exam with flashcards and multiple choice questions. Each question has hints and explanations to enhance your understanding and prepare you thoroughly.

Multiple Choice

Which term refers to the party that ships goods?

Explanation:
The party that ships goods is the consignor. The consignor is the originator of the shipment, usually the seller or exporter, who hands the goods to a carrier for transport to the buyer. The recipient at the destination is the consignee, who receives the goods. A bailor is the owner who delivers property to a bailee for care, not for shipment itself, and a pledge involves using property as security for a debt rather than shipping. So the term that best fits “the party that ships goods” is consignor.

The party that ships goods is the consignor. The consignor is the originator of the shipment, usually the seller or exporter, who hands the goods to a carrier for transport to the buyer. The recipient at the destination is the consignee, who receives the goods. A bailor is the owner who delivers property to a bailee for care, not for shipment itself, and a pledge involves using property as security for a debt rather than shipping. So the term that best fits “the party that ships goods” is consignor.

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