Nautical Term: BL (2)
Definition of BL (2)
[(Bill of Lading) BL (2) for short] This is a formal document, signed by the carrier, that serves as both a receipt and evidence of title to the cargo being transported.
Example: In the business world of international shipping, a BL (2) plays a crucial role. For instance, when Company A sells goods to Company B in a different country, Company A arranges for the shipment of the goods. The carrier that transports the goods creates a BL (2), which serves as both the receipt that Company A requires to prove that the goods have been shipped, and the evidence of title that Company B needs to ensure that it will receive the goods free and clear of any other claims.
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