Ocean Bill of Lading is a shipping document issued by a carrier for goods transported by sea, serving as a contract of carriage and proof of ownership.
How It Works:
- Goods are loaded onto a vessel.
- The carrier issues the document.
- It includes shipment and ownership details.
- It is used to claim goods at destination.
Benefits:
- Acts as proof of shipment
- Serves as a document of title
- Facilitates transfer of ownership
- Supports international trade
Example:
An importer presents the Ocean Bill of Lading to claim goods at the destination port.