Bill of Lading

A Bill of Lading (B/L) is a legal document issued by a carrier (or its agent) to the shipper. It performs three functions at once: it is a receipt for the goods received for shipment, evidence of the contract of carriage, and a document of title that can be used to claim the goods at the destination.

Because the Bill of Lading controls ownership of the cargo, it is central to international trade and is one of the documents typically required under a Letter of Credit.

• Negotiable (to order) B/L — title can be transferred by endorsement.
• Straight B/L — consigned to a named party and not transferable.
• Sea Waybill — a non-negotiable alternative for trusted parties.