0:00What is a bill of lading?
0:02One document that does three jobs.
0:05An ocean bill of lading, issued by the carrier, serves three functions at once.
0:11A receipt for the goods.
0:12Evidence of the contract of carriage.
0:15And, if issued as an original order bill, a document of title.
0:20Whoever holds a signed original can claim the goods.
0:25A sea waybill is a non-negotiable alternative.
0:28It speeds up release because no physical original must be presented,
0:33which suits buyer and seller who trust each other.
0:37A master bill of lading is issued by the carrier to your forwarder.
0:42A house bill of lading is issued by your forwarder to you,
0:46and matters particularly for LCL shipments consolidated with other shippers' cargo.
0:53An air waybill serves a similar role for air cargo,
0:56but it is never a document of title.
0:59It is simply a receipt and contract of carriage,
1:02because air shipments move faster than the paperwork could realistically travel
1:08separately anyway.
1:10Always know which document you hold.