A bill of lading is a legal document issued by a carrier to acknowledge receipt of cargo for shipment. It is a contract between the shipper and the carrier, outlining the rights, responsibilities, and liabilities of each party involved in the transportation process. The bill of lading serves three main functions: it is a conclusive receipt, acknowledging that the goods have been loaded; it contains, or evidences, the terms of the contract of carriage; and it serves as a document of title to the goods, subject to the nemo dat rule. The document must accompany the shipped goods and must be signed by an authorized representative from the carrier, shipper, and receiver. The bill of lading is a legally binding document that provides the carrier and the shipper with all of the necessary details to accurately process a shipment. It is a necessary document for freight shipment, and it is legally required to move goods from one location to the next. The accuracy of the bill of lading is critical to the timely and efficient routing and transportation of freight. Different types of bills of lading exist, and they have different terms within their contract and are needed for different shipping situations and scenarios.