Bill of lading is a written legal document issued by the shipper (or their representative) to the carrier (or their representative), containing the details of the goods being transported. There are three characteristics of the bill of lading: It serves as the proof of the contract of freight. It serves as a receipt of shipment. It serves as a document of title Bill of lading is one of the most important document in the transportation industry. Further clarification of these characteristics are as follows: