DEFINITION
A bill of lading is the document a sea carrier issues when it takes goods on board. It does three things at once: it is the carrier's receipt for the goods, the evidence of the contract of carriage, and, for a negotiable B/L, a document of title. Whoever holds the original can claim the goods at the destination port.
That last role is why the B/L matters in payment terms such as cash against documents and letters of credit: the bank releases the B/L to the buyer only when it pays, and without it the buyer cannot collect the cargo. A sea waybill, by contrast, is not a title document and the goods are released to the named consignee.
For road transport in Europe, the equivalent transport document is the CMR; for air, the air waybill.
HOW KOLIBRA HELPS
Kolibra keeps the bill of lading with the deal's logistics documents, and the Batch Uploader recognises a B/L and attaches it to the right deal, so it is in the dossier when payment or customs needs it.