The Bill of lading (BOL) is the document required in the shipment process that provides all parties, the consignor, consignee and carrier. The BOL contains all the pertinent details required to ship the product and then invoice the transaction correctly once the transaction is completed.
3 Key Functions of the BOL
- Acknowledges the Receipt of Cargo.
- Provides evidence of Contract of Carriage.
- Documents title of goods.
Key Elements of a BOL
- Name(s) and Address(es).
- Ship From.
- Ship To.
- Third Party Bill.
- Freight Description.
- Freight Class.
- BOL #.
- PRO #.
- Freight Charge.
- Prepaid.
- Collect.
- 3rd Party.
- Purchase Order or Special Reference Numbers.
- Number of Pieces, Packages, Cartons, Skids.
- Weight.
- DOT Hazardous Material Designation.
- Special Instructions.
For more on bill of ladings, we recommend reading Bill of Lading (BOL) Defined & Its Importance where you will learn the difference between negotiable and non-negotiable BOL’s and the different types used for shipping product.
Knowing that the BOL is a legal document, another good article to read is the Legal Implications of a Bill of Lading.