Commonly Used Terms
Bill Of Lading
Bill of Lading (BOL or B/L) is a document issued by a carrier (shipping line), or its agent, to the shipper as an acknowledgment of receipt of the cargo or the shipment.
Functions of Bill of Lading
The B/L serves multiple functions:
- It is a document of title
- A contract of carriage of goods
- An acknowledgement from the carrier that it has received and accepted the goods for transportation.
The B/L has to be presented by the consignee to obtain delivery of the cargo at the port of destination.
Contents of Bill of Lading
The B/L contains the following information:
- Name and address of Shipper
- Name and address of Consignee
- Name and address of Notify party
- Name of Port of Loading
- Name of Port of Destination
- Name and details of designated vessel
- Type of movement (port to port, door to port, door to door)
- Type of container load (FCL/LCL)
- Date of Vessel departure from Port of Loading
- Itemized list of goods, including number of packages, type of packaging, weight/volume, marks and numbers on the packages, and nature of cargo
- Freight rate and amount (if requested)
C
Currency Adjustment Factor (CAF)
Cross-docking
Cost, Insurance and Freight (CIF)
Cost and Freight (CFR)
Contract of Carriage
Container Yard (CY)
Completely Knocked Down (CKD)
Certificate of Origin (CO)
Cellular Vessel
Carriers
Carrier's Lien
Carriage Paid To (CPT)
Carriage And Insurance Paid To (CIP)
Carnet
Cargo Agents Settlement System (CASS)
D
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