Shipping Terms

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:

1. Name and address of Shipper
2. Name and address of Consignee
3. Name and address of Notify party
4. Name of Port of Loading
5. Name of Port of Destination
6. Name and details of designated vessel 
7. Type of movement (port to port, door to port, door to door)
8. Type of container load (FCL/LCL)
9. Date of Vessel departure from Port of Loading
10. Itemized list of goods, including number of packages, type of packaging, weight/volume, marks and numbers on the packages, and nature of cargo
11. Freight rate and amount (if requested)