B/L
B/L — Bill of Lading,Definition Summary: A transport document issued by the carrier acknowledging receipt of cargo for shipment.
The Bill of Lading serves three roles: a receipt for goods, evidence of the contract of carriage, and a document of title. An “original” B/L can be negotiable, meaning whoever holds it controls the cargo. It is central to L/C transactions, where banks release payment against presentation of a clean B/L. A “Telex Release” or “Seaway Bill” speeds up cargo release when originals are not required.