Bill of Lading (B/L)
The primary ocean freight document serving as a receipt of shipment, contract of carriage, and document of title.
In detail
A Bill of Lading (B/L or BOL) is issued by the ocean carrier or freight forwarder and performs three simultaneous legal functions: it is a receipt confirming the carrier has accepted the cargo in described condition; it is a contract of carriage stating the terms of transport; and it is a negotiable document of title that controls who can claim the cargo at destination. Types: Ocean B/L (Master B/L) — issued by the shipping line to the freight forwarder; House B/L — issued by the forwarder to the shipper in LCL (groupage) shipments. An original B/L must be surrendered at the destination port to release the cargo, unless a Sea Waybill (non-negotiable) is used. The B/L is critical for letter of credit payments and for Russian customs clearance. Always verify the B/L draft carefully — errors in shipper/consignee names, HS code, or cargo description are costly to correct after sailing.
Examples
- →MAEU12345678 — Maersk B/L for 1×40HC container Shanghai to Saint Petersburg
Related terms
Sea Waybill (SWB)
A non-negotiable ocean transport document that confirms the contract of carriage and receipt of goods, but unlike a B/L, cannot be used as a document of title.
FCL (Full Container Load)
A shipment occupying an entire ocean container — 20DC, 40DC, or 40HC — booked and sealed by one shipper.
LCL (Less than Container Load)
Consolidated ocean shipping where multiple shippers share one container, each paying per CBM or freight ton of space used.
FOB (Free on Board)
Incoterms 2020 rule: seller is responsible until goods are loaded on board the vessel at the named port; all risk and cost pass to the buyer from that moment.