GLOSSARY

Ocean Bill of Lading

A contract for cargo that provides evidence of the terms between a shipper and the carrier for the transportation of goods over waterways.

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What is Ocean Bill of Lading?

An Ocean Bill of Lading (OBL) is a contract that serves as a receipt for goods that are being shipped by sea. It serves as a contract of carriage between the shipper and the carrier. The OBL is a negotiable document, which means that it can be transferred to another party.

The OBL typically includes the following information:

Name of the shipper and the consignee
Description of the goods
Quantity of the goods
Weight of the goods
Freight charges
Port of loading and the port of discharge
Date of shipment
Signature of the carrier

The OBL is an important contract for both the shipper and the carrier. For the shipper, the OBL is evidence that the goods have been shipped and that the carrier has agreed to transport them. For the carrier, the OBL is a contract that specifies the terms and conditions of the carriage.

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