Bill of Lading (B/L) The bill of lading is the declaration of the master of the vessel by which he acknowledges that he received the goods on board of his ship and assures that he will carry the goods to the place of destination for delivery, in the same condition as he received them, against handing of the original bill of lading. "Bill of lading means a document which evidences a contract of carriage by sea and the taking over of loading of the goods by the carrier, and by which the carrier undertakes to deliver the goods against surrender of the document. A provision in the document that the goods are to be delivered to the order of a named person, or to order, or to bearer, constitutes such an undertaking." The bill of lading (B/L) serves as: A receipt of the goods by the shipowner acknowledging that the goods of the stated species, quantity and condition, are shipped to a stated destination in a certain ship, or at least received in custody of the shipowner for t...