The ocean bill of lading (B/L) is issued by the carrier or its agent when cargo is received for shipment and serves three distinct functions: it is evidence of the contract of carriage, a receipt for the goods, and – as an order bill of lading – a negotiable document of title that entitles the lawful holder to claim delivery at the port of destination.
Source: https://en.wikipedia.org/wiki/Bill_of_lading
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