What does Bill of Lading mean?
A Bill of Lading (BOL or BL) is a record of the goods being carried by a shipping company.
Bill of ladings can be used in order to document what items and how many are being shipped, who is in possession of them at any point in time and also where their destination will be.
Bill of lading is a living document that can be added to and updated and generally has the history of where a product or shipment of products has been and when. They can be especially useful when documenting imported goods and also for tax purposes to ensure the accuracy of logistics records.
A bill of lading will often contain important information that helps to define the LDP price of goods and also show that all duty, taxes and tariffs are being accounted for.