Maritime bill of lading (Bill of Lading)

Maritime bill of lading (Bill of Lading — B/L)

The bill of lading (Bill of Lading) is the fundamental document of maritime transport. It fulfills three essential functions.

Triple function

• Goods receipt: certifies that the carrier has taken charge of the goods
• Proof of the transport contract: defines the conditions of transport
• Title of ownership: allows the transfer of ownership of the goods (negotiable document)

Types of bills of lading

• Original B/L: paper document in 3 originals, negotiable, necessary to collect the goods
• Sea Waybill: non-negotiable, simpler and faster
• Electronic B/L (eBL): dematerialized version, in development

Essential information

Shipper, consignee, port of loading and unloading, description of the goods, “clean on board” or reservations.

Importance in documentary credit

In documentary credit, the bill of lading is generally the most critical document. Banks require a B/L that complies with the terms of the letter of credit.