Definition
A shipping document that lists goods, origin and destination and serves as a receipt for freight.
Why it matters
A signed BOL is the key proof-of-delivery document in freight factoring.
Where it shows up in a deal
In freight factoring the signed BOL is uploaded with the rate confirmation and the carrier invoice, usually from a phone at the receiver's dock. It evidences that the load was delivered and accepted, and most same-day funding cut-offs are missed because the BOL is illegible or unsigned rather than because anything went wrong with the load.
What it affects
- No signed BOL means no funding on that load, however clean the rate confirmation is.
- Shortage, damage and refusal notations written on the BOL become deductions against the invoice later.
- The BOL is also the contract of carriage, so its terms govern liability for the freight itself.
- Consignee names that do not match the invoice and rate confirmation trigger manual review and delay.
The common mistake
Related terms
- Rate ConfirmationA document from a freight broker confirming load details and agreed pay.
- Proof of DeliveryDocumentation proving goods or services were delivered.
- Freight FactoringFactoring of trucking freight bills, usually with same-day funding after delivery.
- VerificationThe process of confirming an invoice with the customer before funding.
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