| Ocean Bill of Lading | A bill of lading (B/L) indicating that the exporter consigns a shipment to an international carrier for transportation to a specified international market. Unlike an inland B/L, the ocean B/L also serves as a collection document. If it is a "Straight B/L," the foreign buyer can obtain the shipment from the carrier by simply showing proof of identity. If a "Negotiable B/L" is used, the buyer must first pay for the goods, post a bond, or meet other conditions agreeable to the seller. See AIR WAYBILL. See Also INLAND BILL OF LADING, THROUGH BILL OF LADING.
See Also Air Waybill , Inland Bill of Lading , Through Bill of Lading |
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