- A bill of lading is a receipt provided by the shipping company or its representatives for commodities placed on board the vessel, signed by the carrier, and granted for transporting the cargo from the port of receipt to the port of discharge.
- The bill might be issued on a freight-to-collect or prepaid basis. Aside from that, the Bill of Lading can be supplied by freight forwarders and banks that consider it a transport or negotiation document under Article 30 of the UCPDC.
- When the Letter of Credit specifies so, the original Ocean Bill of Lading must be 3/3. All three bills of lading must be marked original, with the second and third not designated as duplicate or triplicate.
Bill of Lading: Meaning, Example, Types, Purpose & Contents