Ocean Bill Of Lading

DEFINITION of 'Ocean Bill Of Lading'

A document required for the transportation of goods overseas. An ocean bill of lading serves as both the carrier's receipt to the shipper and as a collection document. The document specifies the details of the goods being transported, such as quantity, type and destination.

BREAKING DOWN 'Ocean Bill Of Lading'

A non-negotiable ocean bill of lading allows the buyer to receive the goods upon showing identification. If the bill is deemed negotiable, then the buyer will be required to pay the shipper for the products and meet any of the seller's other conditions.

An ocean bill of lading allows the shipper to move goods across international waters. If the goods are to be initially shipped over land, an additional document, known as an "inland bill of lading", will be required. The inland bill only allows the materials to reach the shore, while the ocean bill allows them to be transported overseas.

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RELATED FAQS
  1. Can I have more than three original Bills of Lading?

    How many bills of lading copies are allowed when importing or exporting? Should I ship by air or sea? What type of bill of ... Read Answer >>
  2. What statements can be used on a Bill of Lading?

    Read about statements that can appear on a bill of lading for items shipped by ocean, land and air as well as some financial ... Read Answer >>
  3. What is an endorsement in blank on a bill of lading?

    Learn how a bill of lading is an international trading tool and binding contract that ensures owners receive their merchandise ... Read Answer >>
  4. I have lost my original Bills of Lading. Can I obtain a new set?

    Find out why an original bill of lading cannot be replaced if it is lost or stolen and how a court order must be obtained ... Read Answer >>
  5. When should I send my master Bill of Lading?

    A master bill of lading firms up the shipment details between the shipper of goods and the transportation provider or the ... Read Answer >>
  6. How Do I fill out a Master Bill of Lading?

    Learn the key elements behind proper accounting, descriptions and procedures when filling out a master bill of lading for ... Read Answer >>
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