A Bill of Lading (B/L or BOL) is a legally binding document issued by a carrier to a shipper. It outlines the shipment details, including the type, quantity, and destination of the goods transported. The BOL serves three primary functions:
- Contract of carriage: It acts as an agreement between the shipper and the carrier for shipping goods.
- Receipt of goods: It confirms that the carrier has received the cargo as described.
- Document of title: It enables the consignee to claim ownership and take possession of the goods upon arrival.
Ocean Shipments:
Use Master Bill of Lading (MBL) and House Bill of Lading (HBL).
Air Shipments:
Use an Air Waybill (AWB), which functions similarly but is non-negotiable.
