BoL: Bill of Lading

Bill of Lading Definition – What Does BoL Mean?

A bill of lading (BoL) is a legal document issued by a carrier to a shipper. The bill of lading form indicates the destination of the cargo, the type and the quantity. 

The BoL also provides a record of shipment receipt from the time the carrier delivers the goods to the agreed upon final destination. This document is required with the shipped goods, regardless of the mode of transportation.

The bill of lading form must also be signed by a representative authorized by the carrier, shipper, and receiver. Complete and proper BoL documentation is mandatory for all shipments of goods. 

Key Takeaways

What, exactly, is a bill of lading (BoL)?

• • Bill of lading definition: A detailed list of a shipment of goods in the form of a receipt given by the carrier to the person consigning the goods.
  • The BoL is a contract between the carrier and the shipper.
  • Bill of lading forms constitute the title and receipt for shipped goods.
  • Bill of lading documents are mandatory with shipped goods and require a signature by an authorized representative.

Bill of Lading Form – How To Make A Bill of Lading?

In most cases, the bill of lading form will have the names and addresses of the consigner (shipper) and consignee (receiver).

BoL forms should also include the shipment date, the value of the cargo, quantities, precise weights, and freight classification of the goods being shipped.

It is also required to include a description of the goods, specifically whether they are classified as hazardous materials (HAZMAT), the packaging type used for shipment, and any additional instructions and order tracking numbers the carrier should be aware of. An example bill of lading form can be seen below:

Why Is a Bill of Lading Important?

1. First and foremost, the BoL is a legally binding document. It gives both the shipper and carrier all the information necessary and ensures an accurate shipment process.
2. It can help prevent asset theft and also be relied upon should litigation become necessary.
3. A bill of lading acts as the undisputed proof of shipment.
4. Bill of lading forms are critical documents for internal control measures

Bill of Lading (BoL) Solutions

Magaya Supply Chain includes built-in document templates for key documents like the bill of lading, making it fast and easy to create and share this key shipping document.