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Global Trade Guide
A Bill of Lading is a crucial document issued by a Carrier (somebody who transports and delivers goods) to the Shipper (also known as the Consignor), confirming that the goods were received in an acceptable condition and are ready to be shipped. It is a legally binding document, and often serves as proof of ownership over the goods being carried as only the consignee listed on the Bill of Lading has contractual rights to request for the release of the cargo.
What is a Bill of Lading used for?
A Bill of Lading (B/L or BoL) document is an extremely important document that the Carrier (the company responsible for the transport of goods) issues to the Shipper (the Consignor). It serves a few critical roles within an export shipment: Evidence of contract of carriage A Bill of Lading is essentially a contract of carriage between the Shipper, Consignee, and Carrier stating the terms and conditions of carriage. Receipt of goods It acts as proof of delivery, confirming that the goods were received in an acceptable condition and are ready to be shipped. Document of title to the goods A Bill of Lading also serves as proof of ownership over the goods being carried. The owner of the cargo (the holder of the B/L) has the legal rights to claim the goods or arrange transfer ownership of the cargo to another party in the supply chain. In some cases, the Shipper can withhold the Bill of Lading until having received payment from the Consignee. Doing this prevents the Consignee from accessing their goods until payment has been made and the Bill of Lading has