A Straight Bill of Lading is issued when the customer has made the complete payment for the shipment in advance, and gets the right to receive the consignment directly. The consignee must receive the delivery, and has no way to renounce the right to another person.

Why is bill of lading important to exporter?

Bills of Lading in International Trade, allows the exporter to hand over the control of the packages to the carrier, giving the exporter indirect control over the goods during its transportation phase. The BOL is also important for the shipping of goods because the information it holds influences various activities.

How does a bill of lading work?

The bill of lading (BOL) works as a receipt of freight services, a contract between a freight carrier and shipper and a document of title. The bill of lading is a legally binding document providing the driver and the carrier all the details needed to process the freight shipment and invoice it correctly.

When does a shipping company issue a bill of lading?

A bill of lading is a document issued by the shipping company upon shipment of goods. It is a contract between the shipper (exporter) and the shipping company for the carrying goods to port of destination.

Which is the most important part of the bill of lading?

Your bill of lading (BOL) is the most important part of your freight shipping. This applies to Less-Than-Truckload (LTL) or full truckload shipping. It applies to intermodal shipping or volume shipping quotes.

Do you have to show a straight bill of lading?

A straight bill of lading identifies the consignee as the actual person and depending on the laws of the destination country, he/she may not be required to show the original bill when claiming the goods. And more often than not, the consignee has to make an advance payment first before they can receive the goods.

What does Bol mean in Bill of lading?

Now, let’s break it down a bit. To “lade” means to load cargo on the ship or vessel. The BOL is the receipt of the transaction between you and your carrier. It is a legally binding document that can also serve as a document of title, which allows the person holding it to claim ownership of the freight.