Bill of Lading

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abbreviated as B/L or BOL. a document issued by a carrier which details a shipment of merchandise and gives title of that shipment to a specified party. one of three important documents used in international trade. Purpose? To guarantee that exporters receive payment and importers to receive merchandise.

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Order of BOL
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used when shipping merchandise prior to payment, requiring a carrier to deliver the merchandise to the importer, and at the endorsement of the exporter the carrier may transfer title to the importer.

Endorsed Order BOL

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can be traded as a security or serve as collateral against debt obligations.

Attributes of BOL
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on board merchandise has been physically loaded onto a shipping vessel, such as a freighter or cargo plane. received-for-shipment merchandise has been received, but is not guaranteed to have already been loaded onto a shipping vessel. clean merchandise is in good condition upon being received by the shipping carrier foul merchandise has incurred damage prior to being received by the shipping carrier. Letters of credit usually will not allow for foul bills of lading.