Bill of Lading
Detailed Freight Guide & Operational Context
The Bill of Lading (B/L or BOL) is the foundational legal document in global ocean transportation. It performs three indispensable functions: (1) receipt of goods by the carrier, (2) evidence of the contract of carriage, and (3) a document of title to the goods.
There are several varieties of Bills of Lading: Negotiable Original Bills of Lading (requiring endorsement for cargo release, essential for Letter of Credit financing), Express Sea Waybills (non-negotiable, allowing cargo release without physical document presentation), and House Bills of Lading issued by NVOCCs.
The B/L specifies the shipper, consignee, notify party, vessel/voyage, port of loading, port of discharge, container numbers, seal numbers, piece counts, weight, and freight payment terms.
Frequently Asked Questions about B/L or BOL
What are the three main functions of a Bill of Lading?
The three main functions are: acting as a receipt for cargo, serving as evidence of the carriage contract, and functioning as a document of title.
What is the difference between an Original B/L and a Sea Waybill?
An Original B/L is a negotiable document of title requiring physical presentation to release goods, while a Sea Waybill is non-negotiable and releases cargo to the named consignee immediately upon arrival.
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