Documentation
Bill of Lading
A legal transport document issued by a carrier acknowledging receipt of cargo for ocean shipment. It serves as a receipt, contract of carriage, and document of title (depending on type). Required for customs and bank documentation.
In depth
The bill of lading (B/L) is central to ocean trade finance and cargo release. Original B/Ls can be negotiable, meaning whoever holds the endorsed document may claim the goods. Carriers release cargo against surrendered originals, telex release, or express release per agreed terms.
Key points
- Functions: receipt, contract of carriage, and document of title (where applicable)
- “Clean” means no clauses noting defective packaging or damage
- Consignee and notify party fields control who may claim cargo
- Electronic releases are common but must match payment security