Ocean Freight
Bill of Lading (BOL)
Also called: B/L
Definition
A transport document acknowledging receipt of goods and setting out key terms for their carriage.
In practical terms
Depending on its form, a bill of lading can act as a receipt, evidence of the transport contract, and a document of title. Shipment parties must understand whether an original, sea waybill, or electronic release process applies.
Example
The consignee presents the required release information before the container can be collected.