The BOL functions as a proof of claim to a shipment by the consignee. It acts as a document of title to the goods for consignees. The BOL acts as an agreement between these two parties for the transportation of the shipper’s goods by the carrier. It acts as a contract for carriage between carriers and shippers.Once a carrier issues a BOL to a shipper, they acknowledge that they have received the shipment and that they plan to transport it to the destination indicated on the BOL. It acts as a receipt for goods shipped for shippers.In the shipping and logistics industry, a bill of lading has three functions: ( Source) What Is the Function of a Bill of Lading? It’s called a ‘bill of lading’ because lading is the Old English word for ‘loading’ in the 16th century, which is when it was first issued.
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