Bill of Lading Definition:
A Bill of Lading (BoL or B/L) is a document showing the details and specifications of cargo shipped, its destination, consignee and shipper name, value, and other delivery information.
A Bill of Lading comes in various types and has multiple functions, with three primary ones including proof of carriage contract, acknowledgment of freight received by the carrier, and cargo title document. This legally binding document gives the shipper and the carrier all the vital details and information to process the shipment accurately. Generally, the primary function of the Bill of Lading is to act as proof of reception of the specified shipment by the carrier.