Bill of Lading: Everything You Should Know About

Bill of Lading

Freight forwarding is a complicated and arduous process. It takes lots of time, money, and effort. Every time you need to transport cargo you are to face various difficulties and challenges. Some business owners experience difficulties with picking the best freight trucking company. Others find it problematic to cope with fees and charges. At the same time, almost every shipper finds it extra intricate to deal with shipping papers. The following information may be useful for those who are interested in properly filling out the Bill of Lading.

The Bill of Lading is a contract between the owner of the cargo and the carrier. It includes information about goods which are shipped,  the location where the shipment is coming from, as well as its destination. In other words, it encompasses the most important data about the cargo. Land, ocean, and air are the means used for bills of lading.

There is one essential thing to be noticed. There are several variations of the Bill of Lading. They are the following:

  • Straight BOL.

It’s used when it comes to delivering items that have already been paid for. It means only the definite person has the rights to receive the cargo;

  • Open BOL.

It is used for shipments when payment is not made in advance. The final consumer may be changed several times. It’s one of the most popular models in the retail business;

  • Bearer BOL.

 The document states that delivery shall be made to whosoever holds the paper. It’s a good solution when it comes to huge cargoes that should be split into smaller parts; 

  • Order BOL.

This is the most common kind of paper.  It is a negotiable instrument that allows the shipper to disavow their right to obtain the cargo to a third party.

The Bill of Lading is a must when it comes to different modes of transportation. You need this document whether you ship your goods by truck, train, or ship. 

Without BOL, it’s impossible to carry out any shipment. Mistakes may lead to significant financial losses or delays. No wonder, you should pay attention to the proper processing of the document. 

There are two possible ways out you may experience when it comes to effective document management. The first one is to spend several weeks or even months trying to get through all the problems related to the proper filling of the papers. It’s worth taking into account that requirements may vary from state to state or from country to country.

The second way out is to hire a professional and competent freight forwarder who has all the needed knowledge to gather and prepare all the documents in time. It’s a perfect solution if you want to save your time and nerves. The greater part of modern shipping companies offers such services. Everything you should do is pick up a reliable and competent firm. Moreover, they are able to provide you with other helpful options and make your shipping as smooth as possible. So, when shipping, it’s of prime importance to prepare all the needed forms, papers, and permissions. The Bill of Lading is one of the most crucial documents. It’s up to you to decide whether you want to cope with all papers on your own or ask for help from professionals.