Bill of Lading (B/L)

Bill of Lading (B/L) is a legal document issued by a carrier to a shipper. It outlines the type, quantity, and destination of the goods being shipped. It serves as a receipt for the goods and a contract for their transport.

The Bill of Lading includes details such as the shipper’s name, consignee’s name, vessel name, port of loading, port of discharge, and description of goods. It also specifies the terms and conditions of the transport.

There are three main types of Bills of Lading: Straight B/L, Order B/L, and Bearer B/L. Straight B/L is non-negotiable and consigned to a specific person. Order B/L is negotiable and can be transferred by endorsement. Bearer B/L is negotiable and can be transferred by delivery.

The Bill of Lading functions as a document of title, allowing the holder to claim the goods. It also acts as evidence of the contract of carriage and the receipt of goods.