A bill of lading is a document that serves as proof a company or carrier received goods from a shipper. It’s a critical record that our Cleveland warehouse professionals know is essential to demonstrating the chain of custody from shipper to carrier. Beyond simple proof of cargo transfer, it establishes a contract between the two parties for the delivery of the goods to the purchasing party or next carrier. They’re often required for many types of land freight shipments, but can also be mandated for air and sea cargo as well. Failure to properly fill out these forms can be costly.
If you’re considering partnering with a Northeast Ohio warehousing and distribution to a third-party logistics company, it’s important to have a solid understanding of what bills of lading are and how they’re prepared. Chances are, it will be an aspect of your operations you’ll also want to outsource.
What Exactly is in a Bill of Lading (BOL)?
Bills of lading, sometimes called BOL, are nothing new. In fact, they go all the way back to at least the 16th century, when they were routinely used to track ship cargo movements. Back then, it was pretty basic: An inventory check and the signatures of the shipper and carrier.
Today, the general idea is the same, but with all the various modes of transport, warehousing, and distribution (not to mention evolving technology), the particulars are quite a bit more involved.