Bills of Lading are contracts between the owner of the goods and the carrier. There are two types: a straight Bill of Lading is non-negotiable, while a Negotiable or Shipper’s Order Bill of Lading can be bought, sold, or traded while goods are in transit and is used for letter-of-credit transactions. The customer usually needs the original or a copy as proof of ownership to take possession of the goods
A Bill of Lading customarily shows the name of the shipper, name and address of the consignee, port of destination, description of goods, listing of the freight and other charges, the number of bills of lading in the full set, and the date and signature of an official representative of the carrier, acknowledging receipt on board of the goods for shipment. The information should correspond exactly with that shown on the invoices and the packages.