Bill of Lading (BOL)

A Bill of Lading is a legally binding document issued by a carrier to a shipper, detailing the type, quantity, and destination of the goods being transported. It also acts as a shipment receipt once the goods are delivered to the designated destination.

This document plays a vital role in international shipping, serving as both a contract between the shipper and the carrier and a record of the cargo’s specifics, including descriptions, handling instructions, and consignee details.

The Bill of Lading also functions as a title of ownership, allowing the transfer of goods to another party. It can be used as legal evidence in case of disputes regarding the shipment.

Proper management of the Bill of Lading ensures smooth customs clearance, accurate delivery, and adherence to international trade regulations. A correctly prepared Bill of Lading reduces the risk of misunderstandings and logistical errors, ensuring an efficient shipping process.

Back to Glossary