Bill of Lading (BL)

A Bill of Lading (BL or B/L) is one of the oldest and most important documents in international trade. It serves three legal functions: a receipt from the carrier acknowledging the goods have been received in apparent good order; evidence of the contract of carriage between shipper and carrier; and (in negotiable form) a document of title — the holder controls who can take delivery at the destination.

BLs come in several types: House BL (HBL) issued by forwarders/NVOCCs to shippers; Master BL (MBL) issued by shipping lines to forwarders; Sea Waybill (non-negotiable, no document required at destination); Switch BL (re-issued at a third location, often to hide the original shipper); Combined Transport BL (multimodal, covers door-to-door).