GlossaryEN1 min readUpdated: Jun 22, 2026
Bill of Lading
When a shipper tenders cargo for ocean carriage, the shipping line or its agent issues a bill of lading – the cornerstone document of international sea freight.
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Source: https://en.wikipedia.org/wiki/Bill_of_lading
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Definition & Explanation
When a shipper tenders cargo for ocean carriage, the shipping line or its agent issues a bill of lading – the cornerstone document of international sea freight. It serves three distinct functions simultaneously: it evidences receipt of the goods as described, records the contract of carriage, and operates as a negotiable document of title, meaning the lawful holder of the original can claim delivery at the port of destination. This negotiability makes it a key instrument in trade finance, as banks accept it as collateral under letters of credit. By contrast, the air waybill (AWB) and the CMR road consignment note fulfil comparable transport functions but are non-negotiable and do not transfer title to the goods.
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